Policymakers have expressed interest in learning from peers that have already begun to support inclusive business. To support this request for knowledge-sharing, the G20 Global Platform on Inclusive Business developed a series of short pieces that examine the motivations, institutional coordination mechanisms, priorities and challenges that countries face as they support inclusive business.
Building on strong foreign direct investment, remittances, and domestic business growth, the Philippine economy has experienced high growth in recent years, averaging 6.2% GDP growth since 2010. Yet as in many countries, ensuring that this growth is inclusive and sustainable remains a challenge. Approximately 60% of the population has a household income of less than $3 per capita per day; one out of every four Filipinos lives in absolute poverty and lacks access to basic services. One approach to encouraging more inclusive growth can be found in the government’s recent efforts to promote inclusive business.
The case study below elaborates the motivations, institutional coordination mechanisms, priorities and challenges that the Philippines faces in terms of supporting inclusive business.