The World Bank Group has identified three clusters of sectors where the Philippines could expand its participation in global value chains post-pandemic.
These industry clusters identified by the World Bank are the industrial, manufacturing, and transportation sector; the technology, media, and telecommunications sector; and the health and life sciences sector. For the country to harness the benefits of expanding its GVC participation in these clusters, constraints related to trade, foreign direct investments , and skills along with other bottlenecks in access to financing, high cost of energy, speed of Internet services, and red tape should be addressed.
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