PHL’s leadership of ASEAN to focus on MSMEs, inclusiveness
THE Philippine chairmanship of ASEAN this year will be marked by a deepening of regional ties in order to keep the trajectory of inclusive growth on an “upswing.”
President Rodrigo R. Duterte outlined specific objectives that the administration plans to focus on as it works with other ASEAN members, particularly the development of micro, small, and medium enterprises (MSMEs); innovationled programs; and the empowerment of women.
“We will work together with ASEAN member states and partners to ensure that the trajectory of inclusive growth remains always on the upswing,” he said in his speech during the formal launch of the ASEAN 2017 Business and Investment Program.
Mr. Duterte said that MSME development is the first priority, noting that these form the “backbone of the ASEAN’s collective economy” as it accounts for around 95% of firms in the region.
“The objective is to build the capacities of MSMEs to make them active and competitive players in the national, regional, and global economies.”
Among other efforts to ensure MSME growth, he cited the Brunei DarussalamInd ones ia-Malaysia-Philippines East A SEAN Growth Area (BIMP-EAGA) initiative, noting that this is “crucial in pursuing development initiative at the grassroots.”
Launched more than a decade ago, the BIMP-EAGA scheme aims to speed up economic development in areas that are geographically far from their respective national capitals, but are still in strategic locations rich in resources and with the potential to create new transport links.
The BIMP-EAGA covers the sultanate of Brunei Darussalam; the Indonesian provinces of Kalimantan, Sulawesi, Maluku and West Papua; the Malaysian states of Sabah and Sarawak and the federal territory of Labuan; and the southern Philippine islands of Mindanao and Palawan.
“Second, full fulfillment will be sought for the pursuit of innovation-led programs,” he said.
For innovation-led programs, he said that the government will use technology, innovation and creativity to spur growth in existing industries and to stimulate new ones, including start-ups.
“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 in our precious human resources.”
The empowerment of women was also cited as one of the objectives of the program.
“The objective is to achieve the full economic potential of women and to bridge the gender gap,” he said.
He said that the move to advance gender equality would account for “900 billion dollars in additional output for east and west Asian economies in 2025.”
“In ASEAN, we will go beyond that and focus on achieving the equity and justice that all our women deserve,”he said.
Department of Trade and Industry Secretary Ramon M. Lopez announced in the same event the yearlong for the ASEAN’s Committee on Business and Investment Promotions (CBIP), which he heads.
“We have developed programs that aim to impact and develop strategic priorities,” he said yesterday during the launch.
Throughout the year, various events will address the ASEAN-led development of MSMEs, the pursuit of sustainable urban development; and support for food manufacturing, businesswomen, young entrepreneurs and start-ups.
“We shall work hand-in-hand in creating paths that will lead our people and communities toward a truly inclusive, innovation-led shared prosperity,” he said.
The 10-member states of ASEAN are the third-largest market in the world with over 620 million people.
Collectively it is the seventh-largest economy in the world with a combined gross domestic product of $2.3 trillion. —