THE Board of Investments (BOI) has entered into a memorandum of understanding with the United Nations Development Programme (UNDP) for a baseline survey on inclusive business (IB) among Philippine companies.
The Business+Philippines is a survey on IB developed by UNDP Istanbul International Center for Private Sector in Development (IICPSD). It is a quantitative analysis on the “inclusiveness” of private sector business operations that seeks to understand the level of awareness in IB models.
The MOU is rooted in UNDP’s interest to enhance development activities by increasing the role of the private sector in sustainable development and promoting IB and the government’s enthusiasm on developing IB as a base for sustained inclusive growth.
A core team meeting, chaired by Ceferino Rodolf, was held on August 8 at the BOI to discuss the timelines and the general flow of Business+Philippines. It was attended by representatives from UNDP IICPSD, UNDP Philippines, Philippine Business for Social Progress, and the Office of Senator Bam Aquino—a staunch supporter of IB.
“Inclusive Business models allow companies to engage poor and low-income communities as partners, customers, suppliers, and employees in their supply chains. In our experience, these models result in spreading the benefits of growth to the poor and we aim to promote them among BOI registered firms,” Rodolfo said.
The meeting was followed by an in-depth interviews training on August 10, which equipped participants with the necessary skills.
IB models help address different challenges in developing countries such as the Philippines, where poverty remains a problem. In the Asia-Pacific region, more than 700 million people live below the $1.25-a-day poverty line.
The Department of Trade and Industry and the BOI have been advocating for the integration of IB into public policy in line with the country’s contribution in realizing inclusive growth within APEC.