THE Board of Investments (BOI) and the United Nations Development Program (UNDP) signed a memorandum of understanding (MOU) with various business groups on Friday to formalize their partnership in conducting a nationwide baseline survey on Inclusive Business (IB) among Philippine companies.
National business sector organizations that signed up for the undertaking include the Philippine Business for Social Progress Inc. (PBSP), the Makati Business Club (MBC), the Management Association of the Philippines (MAP), the Philippine Chamber of Commerce and Industries (PCCI), and the International Chamber of Commerce Philippines (ICCP).
The partnership between the organizations was sealed through a memorandum of understanding signed Friday at the Holiday Inn Makati.
Dubbed Business+ Philippines, the study is also supported by Sen. Bam Aquino, the UNDP Istanbul International Center for Private Sector in Development (IICPSD), Koç University, Istanbul Kemerburgaz University, and the University of Asia and the Pacific (UA&P).
The undertaking involves the cooperation of the business sector organizations in the survey by pre-testing the survey, sending the survey to members and getting their responses, doing follow‐ups when necessary to increase the response rates, contributing to the drafting of the results report, and reviewing the draft report.
“The involvement of the business community in the study is key to achieving meaningful results that may guide public and private sector work toward our shared goal of inclusive economic growth. We look forward the private sector’s participation in this survey initiative,” said DTI Undersecretary Ceferino Rodolfo.
Business+ Philippines was developed by UNDP Istanbul International Center for Private Sector in Development to quantitatively analyze the “inclusiveness” of the Philippine companies’ operations, understand the level of companies’ awareness on IB models, and identify major areas of intervention to accelerate IB innovations.
The outcomes of the research will also serve as a benchmark for market potentials and challenges of IB models across different economies, and shape future UNDP studies accordingly.
“We hope that the study will be very useful for those within the government and the private sector who want to improve inclusive businesses as it aims to show the actual situation within the economy. Inclusive business approaches are key to achieving multiple Sustainable Development Goals, in particular ending poverty.
Successful inclusive businesses are also drivers of innovation and collaboration. These can create opportunities for Filipino companies,” said Ola Almgren, UN resident coordinator and UNDP resident representative in the Philippines.
Further to the government’s thrust to alleviate poverty through an Angat Lahat [Everybody Rises] approach that pushes for more IB models and social enterprises to sustainably tighten the link of small community enterprises into the value chain of big businesses, the BOI has taken IB under its wing and is currently exploring opportunities to encourage businesses to engage in IB.
Among its initiatives, BOI, through its proposed 2017‐2019 Investment Priorities Plan, is considering incentives for companies that integrate the poor in their core business operations, and providing recognition for exemplary and innovative IB models with concrete social impact.