AKP Phnom Penh, Cambodia is taking a lead in ASEAN to adopt the model of inclusive business as it launched the Inclusive Business Landscape Study Report.
The launch was made in the 1st Inclusive Business Champions Meeting for Cambodia, virtually held laste last week under the presidency of H.E. Cham Prasidh, Senior Minister, Minister of Industry, Science, Technology and Innovation.
Inclusive business is a self-sustainable business entity that productively integrates low-income populations into its value chain, he said.
The inclusive business contributes vitally to providing income generation solutions and improving the livelihoods of poor and low-income populations in a systematic and sustainable manner, H.E. Minister underlined.
“These are the reasons we need to encourage inclusive business companies to join the government in achieving the policy vision of becoming an upper middle-income economy by 2030,” H.E. Cham Prasidh said.
An inclusive business model is a type of business model that seeks to create value for low-income communities by integrating them into a company’s value chain on the demand side as clients and consumers, or on the supply side as producers, entrepreneurs or employees in a sustainable way.
ASEAN countries endorsed the guidelines for promotion of inclusive business in ASEAN in September 2020.
Cambodia is the first country to adopt the guidelines for promotion of inclusive business in the region, H.E. Cham Prasidh added.
Cambodia plans to organise the 5th ASEAN Inclusive Business Summit and 3rd ASEAN Inclusive Business Award in 2022, when Cambodia hosts the ASEAN Summit, said H.E. Minister.
Source: Agency Kampuchea Press