Thursday, 21 September 2017
Sort Updates

Industry Updates

PH hosts First Asean Inclusive Business Summit

Date of Publication: 07 September 2017; Source: Department of Trade and Industry

Aims to introduce, build IB cases in the region.

As the promotion of Inclusive Business (IB) remains a key deliverable of the Philippines for its chairmanship of the ASEAN 2017, the Board of Investments (BOI), the industry development and investments promotion arm of the Department of Trade & Industry (DTI) is hosting the ASEAN Inclusive Business (IB) Summit today (September 6) in Manila.

With the theme “Pioneering Change in the Way We Do Business,” the Summit will serve as the first high-level dialogue on IB in ASEAN. It aims at formally introducing and building the case for IB in ASEAN through exemplary models, instrumental government interventions, and regional support initiatives. The IB Summit also emphasized synergies between the private sector and the government as it gathered ASEAN Economic Ministers, Senior Officials, business champions and IB investors.

“As the ASEAN chair for 2017, the Philippines is championing the promotion of IB as a strategic measure to achieve inclusive, innovation-led growth. With the Summit, being the very first high-level gathering in the region, we are confident that this event will be a strategic take-off point to further promote and advocate IB and deepen engagements with low-income communities and micro-entrepreneurs as business partners,” said DTI Secretary and BOI Chairman Ramon Lopez.

According to the trade chief, the ASEAN region is in a strategic position for growth, expanding from 4.5 percent in 2016 to 4.8 percent in 2017. “Yet, over 300 million of our people across the region remain below subsistence levels. Hence, the challenge we face today is more than just ensuring robust growth for the coming decades: it is ensuring that this growth is felt evenly across the region and within countries where inequality pervades,” Sec. Lopez said.

“The Summit hopes to serve as an avenue to further stimulate ASEAN companies to develop IB models and integrate micro, small and medium (MSMEs) and underserved communities, making growth sustainable and inclusive for all. The discussions in the Summit will also serve as inputs on the way forward for IB in the ASEAN,” he said.

The Summit will have three panel sessions: Private Sector, Government, and Investor Panel Sessions. In the first session entitled Partnering for Competitive and Inclusive Business Models, IB companies from the Philippines, Thailand and Singapore to discuss how collaboration with external partners such as government contributed to the success of their IB models.

Selected ASEAN governments meanwhile will impart existing IB programs to sustain the IB agenda during the Government Panel Session: Enabling Inclusive Business Through Policy.

Business sustainability and impact experts will discuss IB financing support mechanisms during the Investor Panel Session: Inclusive Business Financing.

Sec. Lopez emphasized that by engaging low-income communities as partners, customers, suppliers or employees in value chains, IBs can transform communities into new markets and new sources of entrepreneurial talent. IBs go beyond philanthropy and invest in addressing the problems of the poor because it makes good business sense, according to him.

IB is emerging in ASEAN as strategies for MSME development continue to be supported by the ASEAN Member States (AMS). For instance, the ASEAN Inclusive Business Framework (AIBF) aims to strengthen enabling policy environments for IB in AMS, foster regional collaboration and intertwine ASEAN Economic Community Vision and ASEAN Socio-cultural Community vision. It further provides guidance for AMS to foster IB regionally and contribute to socio-economic goals. The framework also emphasizes the relevance and integration of IB to the Strategic Action Plan for SME Development (SAPSMED) goals, which collectively aims to strengthen MSME development. The BOI has also partnered with the ADB for an ASEAN+3 Inclusive Business Study to deepen understanding on the IB opportunities in the region. The study will be released in Q4 of 2017.

The Philippines, through BOI, has been pushing for the IB agenda since 2013 in pursuit of alleviating poverty by trickling down growth to the marginalized sector. Through accelerated advocacy and policy initiatives, the Philippines is recognized as an IB Champion in international fora. For instance, the G20 Global Platform on Inclusive Business launched the Philippine Case Study, which features motivations, institutional coordination mechanisms, and challenges that the country carries to foster IB. The Philippines also led the APEC High Level Dialogue on IB in 2015, following the joint ministerial statement to undertake more work on understanding IB in major sectors in partnership international organizations.

In line with socio-economic agenda of the administration to promote rural and value chain development toward increasing agricultural and rural enterprise productivity and rural tourism, the BOI continues to promote Inclusive Business especially in the sectors of agribusiness and tourism. This is complemented by the inclusion of IB in the 2017-2019 BOI Investment Priorities Plan, which provides fiscal incentives to IB projects in agribusiness and tourism.

“The exemplary models in the Philippines signal the strong potential of companies to create IB models. However, companies, even across ASEAN, needs to be further encouraged to disrupt business model and start doing business sustainably by integrating the poor at the core of their business operations,” Sec. Lopez concluded.

Notice: The Publishers of Asean LIP acknowledge the permission granted by the relevant official/ original source for the reproduction of the above/ attached materials. You shall not reproduce the above/ attached materials in whole or in part without the prior written consent of the Publishers and/or the original/ official source. Neither the Publishers nor the official/ original source will be liable for any loss, injury, claim, liability, or damage caused directly, indirectly or incidentally to errors in or omissions from the above/ attached materials. The Publishers and the official/ original source also disclaim and exclude all liabilities in respect of anything done or omitted to be done in reliance upon the whole or any part of the above/attached materials. The access to, and the use of, Asean LIP and contents herein are subject to the Terms of Use.

House restores Budget of CHR, ERC, NCIP

MANILA - The House of Representatives has decided to restore the proposed 2018 budgets of the Commission on Human Rights (CHR), Energy Regulatory Commission, and National Commission on Indigenous Peoples (NCIP).

IBP urges Senate to restore CHR 2018 Budget Senate okays Fiscal and Monetary Report Act of 2017 Solon wants to create Classification System for Third Parties in BOC more

Gemstones Bill needs More Changes: Panel

The Gemstones Bill, which had been passed by the Amyotha Hluttaw in August, still needs more amendments as it does not reflect the true sentiments of the people, according to a member of an advisory committee.

Consumers urged to complain about Faulty Goods and Services Registers of Nominee Directors Guidance for Companies Registers of Registrable Controllers Guidance for Foreign Companies more

House Panel junks Impeach Rap vs Comelec Chief

MANILA - The House of Representatives’ justice committee on Wednesday dismissed the impeachment complaint against Commission on Elections Chairman Andres Bautista due to insufficiency in form.

Two Friends jailed for Robbery, impersonating Immigration Officers Jerantut Forest Officer gets Jail, RM15,000 Fine for Graft Tree Cutter gets Six Years Jail, Whipping for robbing Water Company Worker more

Ambiga loses Leave to Appeal Bid over Travel Ban to Sabah

PUTRAJAYA, Sept 20 (Bernama) - Former Malaysian Bar president Datuk S. Ambiga loses her bid to obtain the green light from the Federal Court to appeal over the Sabah State Immigration Department's decision to ban her fro ...

Federal Court grants EC Leave to Appeal in Voters' Challenge on Boundary Alteration Federal Government ensures Transparency in Sabah, Sarawak Rights House finds Impeach Complaint vs Sereno sufficient in Form, Substance more

Work Suspension in Private Sector up to Employers: DOLE

MANILA - The Department of Labor and Employment (DOLE) reiterated it is upon the discretion of private sector employers if they will suspend work on September 21, in observance of the National Day of Protest.

Authorities spotlight Protection of Migrant Workers Wage Board okays P21 Hike for Minimum Wage Earners in NCR Thai Court orders Poultry Farm to pay Myanmar Workers more

Contractor fined RM4,000 for uploading Defamatory Comments on Facebook

PETALING JAYA, Sept 18 (Bernama) - A contractor, whose status on his dissatisfaction with the police over a traffic summons went viral on Facebook, was fined RM4,000 in default four months' jail by the Magistrate's Court ...

How Singapore SMEs should prepare for EU General Data Protection Regulation 40% in Singapore watch Pirated Content: Study Telekom Malaysia Retiree fined RM5,000 for Transmission of False Communication more

CAA Technologies Pte Ltd v Newcon Builders Pte Ltd

Building and construction law - Building and construction contracts; Building and construction law - Sub-contracts - Compensation for delays; Building and construction law - Terms - Implied terms ...

Interior Ministry promises Action if Fraud found in Khon Kaen Land Use Building Security Bill timely but Firms say Cost a Concern Amended Act aims to improve running of Property Management Organisations more

SC orders BIR to refund PSALM P3.81-B VAT

MANILA - The Supreme Court (SC) on Wednesday ruled in favor of the petition of the Power Sector Assets and Liabilities Management Corporation (PSALM) seeking to reverse a Court of Appeals (CA) ruling that declared null a ...

IRB targeting 86 Companies, Individuals in Sandakan Proposal to amend GST Act 2014 to be tabled in Parliament Government adopts Single Platform for Trading Requirements more

MMDA to review Solons' Immunity to Minor Traffic Violations

MANILA - The Metropolitan Manila Development Authority (MMDA) will review the proposal to grant legislators immunity to minor traffic violations.

Use of Seatbelt for Kids hurdles House Com 'Taxi Stands for Taxis Only' Rule will be reviewed regularly The “Dream Star” more

Man sentenced to death over Shipment of 270 Kilograms of Methamphetamine

Medan, N Sumatra (ANTARA News) - The district court of Medan, North Sumatra, sentenced Irwantoni (38) to death here on Wednesday for his involvement in the shipment of 270 kilograms of methamphetamine from China to Dumai ...

Trade, Investment Agreements must not violate Human Rights Freeport Indonesia announces Long Term Operation Framework PT Dwikarya Reksa Abadi v Menteri Kelautan Dan Perikanan RI more

Authorities spotlight Protection of Migrant Workers

All migrant workers have rights when it comes to negotiating their working conditions and these rights can be upheld by strengthening the legal mechanisms that govern workers' status.

Laos prevails in Hongsa Power Plant Court Case Telephone Number Registry Checks planned as Decree Drafted Governmentt orders Cut in Lotteries more

State Governments need not worry of Amendment to Education Act - Mashitah

KUALA LUMPUR, Sept 20 (Bernama) - State governments should not be worried of the proposed amendments to the Education Act 1996 (Act 550) as the federal government's involvement is meant to synchronise the safety and fina ...

Two Friends jailed for Robbery, impersonating Immigration Officers Jerantut Forest Officer gets Jail, RM15,000 Fine for Graft Tree Cutter gets Six Years Jail, Whipping for robbing Water Company Worker more

Gemstones Bill needs More Changes: Panel

The Gemstones Bill, which had been passed by the Amyotha Hluttaw in August, still needs more amendments as it does not reflect the true sentiments of the people, according to a member of an advisory committee.

Consumers urged to complain about Faulty Goods and Services Amended Food Law may take effect Next Year, FDA says Regulatory Roadmap needed for Banking Sector Reform more

House restores Budget of CHR, ERC, NCIP

MANILA - The House of Representatives has decided to restore the proposed 2018 budgets of the Commission on Human Rights (CHR), Energy Regulatory Commission, and National Commission on Indigenous Peoples (NCIP).

Work Suspension in Private Sector up to Employers: DOLE SC orders BIR to refund PSALM P3.81-B VAT House Panel junks Impeach Rap vs Comelec Chief more

CAA Technologies Pte Ltd v Newcon Builders Pte Ltd

Building and construction law - Building and construction contracts; Building and construction law - Sub-contracts - Compensation for delays; Building and construction law - Terms - Implied terms ...

S'pore, China establish Framework for resolving Belt and Road Disputes Singaporean appointed to Top UN Mediation Panel High Court: Vandalism includes more than Damage to Public Property more

CDC to submit Draft Law on Constitutional Court procedures to NLA during September

BANGKOK, 20th September 2017 (NNT) - The Constitutional Drafting Commission is determined to submit the draft law on the Constitutional Court procedures to the National Legislative Assembly before the end of this month.

CDC deliberates on Draft Organic Anti-corruption Law Government to take Legal Measures against Loan Sharks Thai Court orders Poultry Farm to pay Myanmar Workers more