A New Dawn for Global Value Chain Participation in the Philippines
Guillermo Arenas, The World Bank, Souleymane Coulibaly
A New Dawn for Global Value Chain Participation in the Philippines provides policy recommendations to increase the Philippines’ global value chain (GVC) participation in a post†“COVID-19 (coronavirus) world. The Philippines could indeed benefit from the shifting dynamics of GVCs by attracting more investments as investors look for alternative production sources less sensitive to trade tensions. The book uses up-to-date trade data, analysis of megatrends affecting selected value chains, and interviews with multinational companies and their local suppliers to inform a strategic approach to rethink, diversify, and reorient the country’s GVC participation. The main finding is that the crisis can help strengthen the country’s foreign direct investment attractiveness and motivate operators in GVCs to develop the domestic skills they need for more advantageous GVC participation. The book also explores policies to mobilize key stakeholders (government, lead firms, and domestic suppliers) and to foster participation in three strategic GVC clusters: industrial, manufacturing, and transportation; technology, media, and telecommunications; and health and life sciences.
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activities areas Association attract Authority automotive billion capital centers challenges China cluster companies competitiveness connectivity CONSTRAINTS continued corporations costs countries country’s CREATE Customs decade decline domestic Duke university Economic effect electric vehicle electronics equipment example exports facilitate FIGURE finance firms foreign given Global Value Chains growth GVC participation HLS clusters implement important improve IMT cluster incentives increase Indonesia industry infrastructure innovation INSTITUTIONS integrated investment investors knowledge lack lead lockdown Malaysia manufacturing medium enterprises needed operations opportunities outsourcing pandemic participation percent pharmaceutical Philippines production professional projects promote reforms regional Report requirements restrictions sciences sector segment semiconductor share skills small and medium Source strategic suppliers supply telecommunications Thailand trade transportation United University upgrade Vietnam workers World Bank