Inclusive businesses provide goods, services, and livelihoods on a commercially viable basis, to people living at the base of the pyramid making them part of the value chain of companies as suppliers, distributors, retailers, or customers.
ASEAN governments have been exploring means to encourage more inclusive businesses (IB) to emerge, replicate and scale-up, and some member states are introducing national strategies and programmes to promote IB. At its 52nd Meeting in August 2020, ASEAN Economic Ministers endorsed the Guidelines for the Promotion of Inclusive Business in ASEAN.
At the same time, despite the current difficult COVID-19 context, business leaders, impact investors, and development actors are investing in IB models that support economic growth and social impact at scale.
The ASEAN Community is promoting inclusive business to address the challenges posed by COVID-19 and build back better. Business leaders and investors can learn from the diversity of business models in this region and public officials want to explore how to put into practice the recently adopted Guidelines for the Promotion of Inclusive Business in ASEAN.