Thua Thien-Hue (VNA) – It is crucial to mainstreamwomen’s participation in Inclusive Business whether they are consumers, producers,workers and distributors,  a Vietnameseofficial has said, noting that APEC can benefit much from the initiativebecause women’s full potentials will be tapped.

The remark was made by Dao Quang Vinh, Director General of theInstitute of Labour Science and Social Affairs under Vietnam’s Ministry ofLabour, Invalids and Social Affairs (MOLISA), at the 2017 APEC Seminar on Womenas Prime Movers of Inclusive Business in Hue city, the central province of ThuaThien-Hue, on September 26.

[APEC policy partnership promotes women’s economic participation]

Vinh noted that to deal with the chronic issues of poverty and to furtherpromote the regional economic development, APEC leaders have continuouslyrecognised women’s immerse contributions to economic and social development andhave sustained their support to further mainstreaming gender equality andwomen’s economic empowerment across APEC work streams.

Various approaches and models to combat poverty have continuously beenintroduced and implemented across the economies through joint public andprivate efforts. Among the solutions presented is the Inclusive Business model,which is perceived to bring benefits to low-income or poor communities,including women, thus contributing to poverty alleviation in the region, Vinhsaid.

The MOLISA official stressed that the seminar on women as prime moversof Inclusive Business is an important content during the 2017 APEC Women andthe Economy Forum.

Presentations and discussions on the topic will be valuable input forfurther actions among APEC economies in “creating new dynamism and fostering ashared future”, especially in leveraging the role of women in promotinginclusive business, contributing to poverty reduction across the region, headded.

Sharingthe same view on the crucial role of women in an economy, Rhodora T. Masilang-Bucoy, Chairperson of the Philippine Commission onWomen and head of the Philippine delegation to the 2017 APEC Women andthe Economy Forum, said it is important to look into Inclusive Business modelsthat address barriers to women’s economic empowerment.
 
Thekey findings and analyses from a survey of the “APEC Women as Prime Movers ofInclusive Business” Project showed that there is still a need for institutionsto enhance the enabling environment for women to participate in inclusivebusinesses; to re-create, re-design and innovate; to be more gender responsivein effecting the enabling conditions for women to be prime-movers of InclusiveBusiness.

According to Dao Quang Vinh, the 21 APEC member economies employ around600 million women as part of the labour force, with more than 60 percent ofthem working in the formal sector. The remaining 40 percent are working in theinformal sector, and they are facing a number of barriers such as poverty,limited access to financial report, poor technical and professional skills, loweducational attainment and poor soft skills required for integration andglobalisation.

The United Nations said that barriers to women’s economic participationshould be eliminated or up to 89 billion USD could be lost within the regionaleconomy every year.

The seminar, hosted by the Philippine Department of Trade and Industryand in cooperation with MOLISA, was part of the 2017 APEC Women and the EconomyForum that lasts from September 26 to 29 in Hue city.

Established in 1989, APECcomprises 21 economies, including Australia, Brunei, Canada, Chile, China, HongKong (China), Indonesia, Japan, the Republic of Korea, Malaysia, Mexico, NewZealand, Papua New Guinea, Peru, the Philippines, Russia, Singapore, ChineseTaipei, Thailand, the US, and Vietnam.

Vietnam, joining APEC in1998, is hosting APEC in 2017 under the theme “Creating New Dynamism, Fosteringa Shared Future”.-VNA