PH on ASEAN integration: ready but address weaknesses first

Finance secretary Cesar Purisima said the Philippines is “well situated” to take advantage of ASEAN economic integration, citing human resources as one of the key areas where the Philippine economy stands to benefit from. His views were echoed by other speakers at an investment summit held on Monday, May 19 in Makati City. Business titans Enrique Razon Jr. and Jaime Augusto Zobel de Ayala said, however, that the Philippines still needs to beef up its manufacturing sector and infrastructure investments to fully take advantage of the benefits of a more open regional market. Ayala said said regional integration would make the Philippines more relevant in a global context and make it a “partner of choice.” The Philippine government and private sector are expected to showcase the resilience of the Philippine economy at the World Economic Forum on East Asia in Manila this week.

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