LIVE BLOG: The road to 2015 ASEAN economic community

Live Blog

LIVE BLOG: The road to 2015 ASEAN economic community

  • The private-sector has a role to play; to promote and improve some of the risk management policies and problems. - Dr. Lim
  • It is early but the attendees' minds are sharp. Their questions are spot on.

  • Resources will be a major factor for ASEAN member countries in terms of a wider FTA. - Dr. Lim
  • Jollibee CFO Ysmael Baysa: Did you know we own the largest fast food chain in Brunei? Our vision: to become Asia's largest food service company!

  • Baysa: What's our goal and vision? Jollibee wants to become Asia's largest food service company
  • Jollibee Foods Corp.'s (JFC) vision is to become Asia's largest food service company. - Ysmael Baysa
  • Baysa: To achieve this, it is important for us to become bigger and bigger in Asia. We have to be very big in China. We have a chance to become a major player in China.
  • Baysa: Who knows someday, Jollibee might be the largest fast food chain in China
  • Baysa: We have been working on this for 7 yrs. We are very serious in fulfilling this dream.
  • Baysa: Good news, we will have lower raw material costs. But there are also significant ramifications.
  • Jollibee's Baysa shares how an integrated ASEAN will benefit the food giant's sourcing of raw materials.

  • Baysa: If lower-priced rice, chicken and other raw materials become available from Thailand and Vietnam, what will happen to our farmers in the PH?
  • Baysa: Globalization -- there are many benefits, but there is also significant dislocation.
  • Yuvallos' last words: Align, be ready, create change.

  • Q&A now.

  • Is ASEAN capable of policing and monitoring the progress of the AEC?

    Yuvallos, referring to the earlier speech Dr. Lim Hong Hin, Yuvallos reiterated the capability of the ASEAN, if we just work together.

    Baysa: The government was the one who helped us a lot in this progress. You will be surprised on how helpful the government is to us.
  • Ward: Business has been good. You can source resources on a much wider basis. I feel very positive about the business agenda. The European Union is not a model you want to follow for the ASEAN.

    Collantes-Ramos: From north asia I was moved to south east asia, I have been able to have a healthy comparison the states of both. South East Asia has become more ambitious, more people want to learn english, more people want to go to foreign universities and more people are thinking bigger. Although we have been a little bit complacent for a while, I still see the potential in our young Filipinos.
  • American Chambers' JOHN FORBES takes a historical view on economic integration, citing wars and even the ongoing euro crisis.

    He adds, "the area where Philippines is not growing very rapidly is in investments."

    He notes that in Rappler's interview w Predident Aquino last week, the country's leader talked about opening doors. "In the Philippines, there are many closed doors," referring to foreign investments.

    He cites the case of aviation, specifically regulatory restrictions on 5th freedom rights, foreign ownership, among others.

  • Survey shows that, on the awareness of the ASEAN economic community, 47% said yes, 53% said no.
  • Mr. Benjamin Punongbayan, founder of P&A, thanks everyone for coming and distinguishes the panelists on their points on the impact of AEC.
  • Thank you for joining us in this live blog.
Powered by ScribbleLive Content Marketing Software Platform