ASEAN business summit to highlight investment and small firms
The two-day gathering in Parañaque will put Philippine semiconductors and opportunities for the region’s smaller enterprises on the agenda.
The ASEAN Business Advisory Council plans to promote investment opportunities in the Philippines and Southeast Asia at a two-day summit opening on November 14 in Parañaque. Its priorities include attracting semiconductor investment and expanding opportunities for micro, small and medium enterprises (MSMEs).
The ASEAN Business and Investment Summit (ABIS) will take place at Solaire Resort alongside the bloc’s high-level meetings in Manila. Investors, business executives and policymakers are expected to discuss the region’s economic priorities and potential partnerships.
Michael Tan, a member of ASEAN BAC Philippines, said the council would showcase the country’s semiconductor industry, which the government has designated a priority for investment. Electronics and semiconductors are the Philippines’ leading exports.
Tan said the council would also encourage investment linked to Pax Silica, a US-led initiative seeking secure, resilient supply chains for AI and semiconductors. Under that initiative, the Philippines and the United States plan to develop an AI industrial hub in New Clark City, Tarlac.
ASEAN BAC Philippines chair Joey Concepcion said smaller enterprises should be able to participate in and benefit from regional growth. MSMEs make up more than 99 per cent of Philippine businesses. Across ASEAN, over 70 million MSMEs provide 85 per cent of employment and generate around 45 per cent of regional gross domestic product.
Tan also called for business and government leaders to hear the concerns of farmers and MSMEs. Scheduled speakers include Ayala Corp. chairman Jaime Augusto Zobel de Ayala and SM Investments Corp. vice chair Teresita Sy-Coson.
