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By Michael Standaert
he social-impact economy in growth markets in Asia has grabbed the attention of governments in the region, according to a new report from the Asian Venture Philanthropy Network. Impact investment funds are launching or expanding, even in Cambodia and Myanmar, as well as in Indonesia and the Phillippines, and a new law is enabling social enterprises in Vietnam.
Education remains a hot investment sector in China. Environmental investments lag across the region. Human rights, democracy promotion and political freedom remain tough issues, but organizations focused on healthcare, education and livelihoods have increased room to operate.
“In various countries, government support has been limited but there has been a change in mindset now, since they have seen how much activity is going on in their own social economy,” Anh Nguyen of the Asian Venture Philanthropy Network told ImpactAlpha. “That has led them to take more steps to support it, to promote it, because they realize that this movement has the potential to facilitate inclusive growth, which is their agenda as well.”