Expert Group Meeting on Promoting Inclusive Business Across Asia and the Pacific, 29 May, Bangkok

The Trade, Investment and Innovation Division of the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) hosted the Second Expert Group Meeting on Promoting Inclusive Business across Asia and the Pacific on 29th May in Bangkok. The meeting discussed actions being taken in countries in the Asia Pacific region to promote inclusive business models and enhance the capacity of the private sector to create jobs, income opportunities and value for low-income and marginalized communities.

In 2023, the ASEAN Economic Ministers endorsed the Plan of Action for the Promotion of Inclusive Business in ASEAN (2023-2027) and in 2024 they endorsed the Model Framework for an Inclusive Business Accreditation System in ASEAN. Many governments in the Asia Pacific region have taken actions to promote inclusive business models in their respective countries. In India, the Government of Telangana has incorporated inclusive business into the Telangana MSME Policy 2024. In Sri Lanka, a Strategy to Promote Inclusive and Sustainable Businesses to achieve the Sustainable Development Goals (SDGs) was adopted in 2024. Subsequently, an Action Plan to Develop Inclusive and Sustainable Business Capacities in Sri Lanka was adopted. The Government of Viet Nam has developed and piloted a national Inclusive Business Accreditation System. The Governments of the Lao People’s Democratic Republic, India and Thailand have conducted national landscape studies to inform the development of strategies to promote inclusive business.

The expert group meeting discussed plans and advances made by governments to promote inclusive business, challenges and lessons learned while carrying out these efforts and concrete opportunities to collaborate in building capacities of enterprises to develop inclusive business models in the Asia-Pacific region.

The Director General of the Sustainable Development Council, Chamindry Saparamadu was invited to present the national level capacity building strategies for inclusive businesses implemented in Sri Lanka. She mentioned that the inclusive business capacity gap assessment conducted revealed gaps across all sectors and levels which are at an early development stage. For example, impact reporting practices remain at an awareness stage, requiring further development. Access to inclusive and impact finance maybe restricted because of low awareness and skills in fulfilling reporting requirements. As such, the Action Plan for Business Capacity development proposes that inclusive and sustainable business capacities are developed across individual, organization and ecosystem levels around six critical objectives through the provision of training, mentorship and resources. These include certification, accreditation, impact measurement and reporting, branding and recognition, access to finance and investment, engaging low-income and vulnerable groups, building green business opportunities and value chain development and export readiness.

The meeting explored opportunities for regional collaboration in the above areas. It was attended by representatives from the governments of India, Malaysia, Singapore, Sri Lanka, Vietnam and Lao PDR as well as ESCAP and business support agencies such as Impact Hub, Thailand, ENDEVA, Yunus Thailand etc.