The World Bank (WB) is hopeful the Philippines can take advantage of the “new dawn” for global value chain (GVC) industry clusters by repositioning itself and enhancing its participation in the global context.
This was contained in a report titled “A New Dawn for Global Value Chain Participation in the Philippines” released October 6 at Fairmont Hotel in Makati.
In presenting the highlights, Souleymane Coulibaly, WB program leader for Equitable Growth, Finance, and Institutions and author of the New Dawn report, said within the next six months ”the Philippines will have to address constraints to foreign direct investment attractiveness and facilitate trade through full implementation of key recent economic bills adopted.
“Within the next three years, (the Philippines) has to promote investment and competition in logistics and connectivity services along with the development of an innovation ecosystem while advancing the digitalization agenda to boost manufacturing,” the report said.
