Financial Times: First Metro Philippines Investment Summit

BOOSTING COMPETITIVENESS AND INCLUSIVE GROWTH AS ASEAN INTEGRATES

The Philippines is one of East Asia’s fastest growing economies. Under President Benigno Aquino III’s administration, a number of institutional reforms have been set into motion, including a rebalancing of the economy to drive sustainability, a focus on social protection and inclusion, as well as specific initiatives to fight corruption. The challenge for the next government will be maintaining this strong growth and overall macroeconomic stability, particularly following integration of the ASEAN Economic Community.

ASEAN integration aims to facilitate freer flows of trade and investment within the region, promising greater economic growth through increased foreign direct investment and higher productivity from corporates as they raise their competitiveness and enter new markets. However, in some ASEAN countries, concerns remain regarding the implications of the tariff cuts, removal of trade barriers, and harmonisation of tax systems that are essential for a single market. Will member-states recognise the longer-term benefits of the ASEAN Economic Community? Are regional economies willing to implement the necessary changes in policy and regulation?

Attracting investment from other ASEAN countries and also Western economies remains a key priority for the Philippines. To achieve this, policy-makers and business leaders need to confront challenges such as bank liberalisation, changes in consumer buying trends, and keeping pace with technological advances. How can the public and private sectors embrace market disruptors to maximise growth? How does the business landscape in the Philippines compare to that of other countries at different stages of development?

The second annual Financial Times-First Metro Philippines Investment Summit will bring together international economists, senior government representatives, consultants, investors and business leaders, to assess how major regional and global trends are impacting the Philippines, including the implications of ASEAN integration and the nation’s role as APEC host.

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