PRESIDENT Rodrigo Duterte on Tuesday was optimistic that “genuine and transformative” economic change would be achieved, now that the Association of Southeast Asian Nations’ (Asean) business and investment program has been officially launched.
“More than anything else, this program is a shared vision and a roadmap of what we all hope to achieve – genuine, transformative economic change that will benefit all of the Asean people,” Duterte said during the ceremonial launch of Asean Business and Investment Program at Malacañang Palace's Rizal Hall.
Trade Secretary Ramon Lopez expressed confidence that the Asean would be an “economic powerhouse.”
Lopez cited that to date, the region is the third largest market in the world with over 620 million people, the third largest economy in Asia, and the seventh largest economy in Asia, and the seventh largest economy in the world with a combined gross domestic product of $2.3 trillion.
“DTI (Department of Trade and Industry), as chair of the Asean Economic Ministers and the chair for the Committee on Business and Investment Promotion, will unveil several business programs for the year that will complement Philippines’ priorities under the Asean Economic Community Pillar,” he said.
Duterte said Asean has to sustain its momentum towards inclusive growth, ensure that businesses and industries continue to thrive, and secure a policy environment that supports meaningful economic change and reform.
He thus said that under the Philippines’ chairmanship, three key issues would be at utmost priorities – micro, small and medium industries (MSMEs); innovation-led programs; and women empowerment.
The President said the main focus is to make MSMEs active and competitive players in the national, regional and global economies.
In order to do this, he urged business leaders and enterprises to tap the MSMEs and help them integrate into the national, regional valued chain.
Duterte also said that use of technology, innovation, and creativity is needed to spur growth in existing programs and to stimulate new ones, including starts-up.
“If we’re able to evolve toward becoming smart economies, we have to be intelligent about investments, which includes investment not just in the areas of science and research and development but equally important is our precious human resources,” he said.
The President said women should also be empowered so they can take on the greater economic roles and participate more broadly in nation- and region-building.
“The objective is to achieve the full economic potentials of women and to bridge the gender gap,” Duterte said.
“Figures from study show that advancing gender equality will result in US’s $900 billion additional output to east and west Asian economies in 2025. In Asean, we will go beyond that and focus on achieving the equity and justice that all women deserve.”
Duterte encouraged all business leaders and enterprises to actively participate in the vital programs developed to support initiatives under the Philippines’ Asean chairmanship.
“Under the Philippines’ chairmanship, Asean will continue on this road towards progress and prosperity. We’ll work tirelessly to ensure that Asean’s economic integration as an object and instrument of policy are fully harnessed," he said. (VoxPop Philippines)
