Contribution of the Business Sector in Philippine’s Development

Since the end of earthly concern War II, the Filipino economy has been on an unfortunate trajectory, going from one of the richest countries in Asia (following Japan) to one of the poorest. Growth immediately subsequently the war was rapid, but slowed over time. old age of scotch mismanagement and policy-making unpredictability during the Marcos regime contributed to economical stagnation and resulted in macroeconomic instability.A severe corner from 1984 through 1985 saw the economy grovel by more than 10%, and perceptions of political instability during the Aquino administration further dampened economic activity. But in recent years, the Philippine economy is slowly doing its best to improver its economic increment. Due to the strong post-crisis, the Philippines continues to eccentric challenges and must sustain to achieve economic growth. Thus, the fiber of parentage enterprises is essential in pulling up the countrys economic development.One of the biggest contrib utions of the business welkin in Philippines development is through investments. They invest in club so that nobody falls start of the market. They too invest in construction and maintaining capital resources to reduce cost of doing improve efficiency and invest in rude(a) and innovative technologies that create new work that promote public good. The business orbit dominates the Philippine economy contributing a big part to the countrys GDP. These private enterprises hire workforce and so uplift employment rate.The Philippine business sector has demonstrated a grand range of innovative initiatives aimed at maximise their positive social, economic and environmental impacts on the communities where they operate and on the society in general. The business sector does not besides provide employment but also has a corporate social indebtedness through providing opportunities for education, communications, engineering and financial supports. That is why the business sector play s an important role in the Philippine economic development.