16 May 2008 | Paul Snell
Developing countries are "a fantastic source of opportunities for companies", according to the CPO at electronics firm Philips.
Speaking on the sidelines of business school INSEAD's 2008 Leadership Summit, Barbara Kux, who is also a member of the Dutch firm's management committee, said doing business in emerging markets created employment and training opportunities.
"There is a lot of product development and research in these countries and we also source from them. Sourcing amounts to €7.2 billion (£5.7 billion) in the past year and that has a fantastic effect on the economy in these markets," she said.
She added Philips had generated €5.3 billion (£4.2 billion) revenue from "green business" in 2007, a big increase compared with the €4 billion (£3.2 billion) created the year before. "We positioned the whole sustainability issue as a business opportunity," she said.