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APEC
ECONOMIC
POLICY REPORT
2023
Structural Reform and an
Enabling Environment for
Inclusive, Resilient and
Sustainable Businesses
APEC ECONOMIC POLICY
REPORT 2023
Structural Reform and an Enabling
Environment for Inclusive, Resilient and
Sustainable Businesses
APEC Economic Committee
November 2023
Prepared or printed by
Asia-Pacific Economic Cooperation Secretariat
35 Heng Mui Keng Terrace, Singapore 119616
Tel:(65) 6891 9600 | Fax: (65) 6891 9690
Email: info@ | Website:
© 2023 APEC Secretariat
APEC#223-EC-01.5 ISSN: 0218-9763
Note: The terms “national”, “nation” used in the text are for purposes of this report
and do not imply the “political status” of any APEC member economy.
Cover photo: Interconnected by Chek Poh Wong / APEC Photo Contest 2023
2023 APEC Economic Policy Report: Structural Reform and an Enabling Environment for Businesses i
PREFACE
The role of the firm is not what it used to be. In addition to turning a profit for its owners,
making payroll for its workers, and producing goods and services, firms are also increasingly
called to contribute toward society’s well-being. From circular economy initiatives to
philanthropic activities, firms are being accountable not only to shareholders but to society at
large.
This year’s APEC Economic Policy Report (AEPR) discusses the complex topic of Structural
Reform and an Enabling Environment for Inclusive, Resilient and Sustainable Businesses. In
particular, it sheds light on the important intersection between private activity and the public
interest.
The AEPR highlights the importance of ensuring a conducive business environment, one that
reduces transaction costs and facilitates firm entry, operation and closure. Not only is this good
for business and competitiveness, but i
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