At the launch of its Global Value Chain report on Thursday, the World Bank said the Philippines has three areas it may elect to focus on: Industrials, Manufacturing, and Transport ; Technology, Media, and Telecommunications ; and Health and Life Sciences .
The World Bank said every percentage point increase in GVC participation raises gross domestic product per capita by more than one percent via increased exports and poverty reduction. Souleymane Coulibaly, the World Bank’s program leader for Brunei, Malaysia, the Philippines, and Thailand, said: “The Philippines’ post-COVID recovery could benefit from a configuration of its leading exports… IMT can build on the country’s strong position in electronics parts and components.”
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