LIVE BLOG: The road to 2015 ASEAN economic community

Live Blog

LIVE BLOG: The road to 2015 ASEAN economic community

  • P&A hosts a business conference to tackle the ASEAN integrated market in 2015.

  • 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.

  • Forbes: Although the ASEAN population could travel freely, there that question whether they could work freely in the member countries they are traveling to. The opening of doors, there is a long list of doors that have bee closed to the ASEAN are now opening up. It is impossible for us to have to track down how we are doing in the EU, but that is something that the ASEAN could work on. The ASEAN could be stronger if there would be competition inside the region and not just globally.
  • Economist BERNARDO VILLEGAS shares that the ASEAN 2015 strategy allows us to go head-to-head with giants China and India.

    How? "Focus in VIP countries - Vietnam, Indonesia, Philippines. These highly-populated consumer-driven economy is entry into ASEAN."

  • Dr. Villegas: The ASEAN has to build a regional block wherein we would be competing against India and China. We should not be competing against each other, we are already an integrated market. The biggest challenge would not be energy, but food. We need the technology of Thailand and Malaysia, their technology in agri-business is needed. From Singapore, we could learn IT wherein they are the current trailblazers.
  • #P&AForum Nestor Tan, President, BDO Unibank, Inc speaking now. p.twimg.com

  • BDO Unibank president NESTOR TAN shares that jobs are among unintended consequences of ASEAN 2015.

    "There are clearly social consequences," he shares. "We saw advantages of economic integration in euro. The question is, Are we ready? In the case of BDO, probably not yet there."

  • Mr. Tan: ASEAN integration is a must have, we might have a shot in the world economy and it is all about the timing. Government should implement policies that help industries. We have to be aware that we as ASEAN are volatile, if one country sneezes, everyone else catches a cold. Another concern in the AEC is jobs. This is definitely the way to go, but are we ready?
  • Dr. Villegas in response to the relevance of Japan to the region in 10 years.

    Dr. Villegas: The importance and relevance of Japan for the ASEAN in 10 years does not look so good. Japan has a lot of problems; the fertility rate and demographics. "What I see from Japan is false teeth". Japan would retain a high GDP but don't expect growth.
  • MALCOM WARD, executive director of auditing firm Grant Thornton, is part of panel.

  • OLIVE COLLANTES-RAMOS, president of DHL Exel Supply Chain, joins the P&A forum panel. She talks about small and medium enterprises' opportunities in ASEAN 2015.

  • Finished the panel of reactors. Adrian Cristobal, DTI and Managing Head of Philippine Board of Investments speaking now.
  • ADRIAN CRISTOBAL JR, Trade Undersecretary, shares how the government is laying the groundwork for ASEAN 2015
  • Philippines has the highest utilization rate among other ASEAN member countries. - Usec. Cristobal
  • Philippines liberalized to fast compared to its peers from SEA, opening-up multiple problems for the country. - Usec. Cristobal
  • Usec. Cristobal reiterates the prioritization of the government in terms of industry, identify the winners SMEs then market and utilize them
  • The Philippines' good year, "sweet spot", could actually amount to 2-3 years, so don't expect the growth to be dying down, as per Cristobal.
  • The biggest challenge now for the Philippines is to institutionalize a transparent and anti-corrupt business environment. - Usec Cristobal
  • The government is willing to partner with the private sector in terms of helping in the progress of the AEC. - Usec. Cristobal
  • 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.
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