Driving structural change through global value chains integration

UNIDO 18 june

(UNIDO, 2018)

This article is brought to you in association with the United Nations.

World-renowned policy experts and academics, as well as high-level practitioners and policymakers came together today for the 2018 Forum on Globalization and Industrialization to explore the potential of Global Value Chains (GVCs) for driving structural change.

Participation in GVCs provides important opportunities for firms to access international markets, absorb new technology, and rapidly expand their economies of scale. However, technology requirements for entering into GVCs are more demanding than ever and there is a tangible risk that developing economies will remain trapped in lower value-added activities along the value chains.

“Harnessing the potential of GVCs for broad-based economic development requires active and purposeful policies. It also requires an understanding of the characteristics and dynamics of GVCs across different regions and industries,” said LI Yong, Director General of the United Nations Industrial Development Organization (UNIDO), at the opening.

The participants looked into how GVCs can lead to inclusive and sustainable development and how countries at different stages of development can ensure their participation in those value chains.

“Supply chain linkages are a key channel for foreign direct investment (FDI)-driven sustainable industrialization. Firms that engage in FDI are more productive and more sustainable than those that do not,” said Ana Novik, Head of Investment Division at the Organisation for Economic Co-operation and Development. “Therefore, host economy SMEs can benefit from supply chain linkages with foreign multinational enterprises through transfers of knowledge and technology.”

Policy challenges and options for utilizing the potential of GVC for broad-based economic development were also discussed.

“Government and policymakers must take a holistic view of participation GVCs. The policies must not just focus on what needs to be done domestically, but also internationally through trade and investment agreements,” said Rebecca Fatima Sta Maria, Senior Policy Fellow at the Economic Research Institute for ASEAN and East Asia. “Governments must also review investment policies to ensure that they attract investments, which are aligned to their goals for sustainable and inclusive development. This means focusing not just on environment impact but also the social impact of FDI.”

Albert Ting, Chairman of CX Technology Corporation added, “The successful development models of East Asia can be modified and adopted by others to achieve better success in inclusive sustainable industrial development and poverty alleviation.”

Two new UNIDO reports, which contributed to the structure of the event, were launched during the Forum: “The Global Value Chains and Industrial Development: Lessons from China, South-East and South Asia” and “Structural Change for Inclusive and Sustainable Industrial Development”.

The Forum was organized by UNIDO and the Kiel Centre for Globalization (KCG) at the Kiel Institute for the World Economy (IfW Kiel), in cooperation with China’s University of International Business and Economics (UIBE). The event was also made possible with financial support from the People’s Republic of China.

the sting Milestones

Featured Stings

Can we feed everyone without unleashing disaster? Read on

These campaigners want to give a quarter of the UK back to nature

How to build a more resilient and inclusive global system

Stopping antimicrobial resistance would cost just USD 2 per person a year

Digital distrust: We’re losing faith in technology to solve the world’s problems

This Canadian company transforms plastic waste into building materials

UN agency ramps up effort to counter growing nuclear threat from cyberspace

Germany objects to EU Commission’s plan for a Eurozone bank deposits insurance scheme but Berlin could go along

This is what’s happening to the Amazon, according to NASA

These 3 innovative solar farms show why this renewable technology is hot right now

From fire to fake snow – the global consequences of the climate crisis

Blockchain is not a magic bullet for security. Can it be trusted?

Civil society organisations disenchanted with “Youth Guarantee”

Investment Plan for Europe: European Investment Bank to provide BioNTech with up to €100 million in debt financing for COVID-19 vaccine development and manufacturing

Where is heading Putin’s Russia?

Skills, not job titles, are the new metric for the labour market

How we planted more than 5,000 trees during the COVID-19 pandemic

This is how Middle Eastern retailers can keep up with e-commerce

UN chief calls for ‘increased commitment’ to resolution on 10th anniversary of Georgia conflict

In the future, no one should be excluded from healthcare

Eurozone’s credibility rock solid

These are the UK’s biggest trading partners

Draghi drafts a plan to donate more money to bankers, the era of ‘money for nothin’ is flourishing

The “Legend of the Sun” wishes you Happy Chinese New Year 2015 from Brussels

European Agenda on Migration four years on: Marked progress needs consolidating in face of volatile situation

Mental health and suicide prevention-what can be done to increase access to mental health services in my region?

World Economic Forum CEO Climate Leaders call for continued action toward net-zero emissions

What next for Europe? Three (completely) different Davos views

Record numbers of people in the UK have applied to study nursing

5 Black heroes of the environmental movement

New UN-Syrian Action Plan signals an ‘important day’ for child protection, says UN envoy

Why today’s leaders need to know about the power of narratives

The gender gap of medicine in 2018

How COVID-19 is making companies act for the long term

Ecocraft: take gaming to another level by greening Minecraft

Is Eurozone heading for disinflation?

Fisherwomen of Lake Chad show optimism in face of multiple challenges

Myanmar military committed ‘routine, systematic’ sexual violence against ethnic minorities, UN experts find

Britain and Germany change attitude towards the European Union

Global warming: our responsibility

Growth is running out of steam. How do we prepare for the next crisis?

Mali’s ‘self-defence’ groups must face justice, after deadly intercommunal attacks

How innovation from within is transforming International Organizations as well as lives

Joint EU-U.S. statement following the EU-U.S. Justice and Home Affairs Ministerial Meeting

Youth Guarantee putting young people in jobs

COP24 negotiations: Why reaching agreement on climate action is so complex

Commission sets moderate greenhouse gas reduction targets for 2030

10 Downing street: Another desperate attempt to unite Britain on Brexit

We had the hottest June ever this year – this is what happened around the world

Thailand gave healthcare to its entire population and the results were dramatic

What is the biggest benefit technology will have on ageing and longevity?

Turkey’s foreign bribery enforcement framework needs to be urgently strengthened and corporate liability legislation reformed

Youth not prioritised in new Commission

Amazon indigenous groups want to create a nature sanctuary the size of Mexico

Consumer protection: Deal on EU-wide rules for those sold faulty products

From drought to floods in Somalia; displacement and hunger worsen, says UN

Does Draghi have another ace up his sleeve given his Quantitative Easing failure?

Give a chance to the brothers of Ailan: reception of refugees in Greece

State aid: Commission approves €2.5 billion Italian scheme to support self-employed and healthcare professionals in context of coronavirus outbreak

How can you or your organization support the Hour of Pride initiative?

Fossil fuel support is rising again in a threat to climate change efforts

The 2019 European elections: A pro-European – and young – electorate with clear expectations

Revamp collective bargaining to prevent rising labour market inequalities in rapidly changing world of work

The European Sting at the Retail Forum for Sustainability live from Barcelona

More Stings?

Speak your Mind Here

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: