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.