ASEAN hosting will show PH worth investing in, says business council

Detailed summary

The country's hosting of the 49th ASEAN Summit is an opportunity to show other countries that the Philippines is "worth investing" in, ASEAN-BAC Philippines said on Thursday.

The country's hosting of the 49th ASEAN Summit and Related Summits is an opportunity to show other countries that the Philippines is "worth investing" in, the ASEAN Business Advisory Council (BAC) Philippines said on Thursday.

ASEAN-BAC Philippines chairperson Joey Concepcion said a successful hosting of the summit will create visibility for the country among potential investors.

"And that's the reason why we have to make this ASEAN hosting successful. Because as we know, we have to create greater visibility with our country. We have to show them where the opportunities are for investment," he said in an interview with Super Radyo dzBB.

"So that is why every hosting is an opportunity for us to show that the Philippines is a country that is worth investing. And that's why we will be meeting with them. And we will show them some of the different areas that we have potential, whether they're into manufacturing or into electronics," he added.

The summit is scheduled from November 16 to 18, with the opening ceremony taking place on November 15.

The Department of Foreign Affairs (DFA) earlier confirmed that global leaders, including US President Donald Trump, are set to attend the summit on November 17.

President Ferdinand "Bongbong" Marcos Jr. is also scheduled to convene major regional forums, including the 29th ASEAN Plus Three Summit and the 21st East Asia Summit.

Concepcion noted that summits like these seek to forge partnerships with neighboring countries for economic empowerment.

"So we have to group together so that we solidly have more economic empowerment. In other words, our economy can be stronger working together rather than Philippines going on their way," he said.

Opening of the article, excerpted from GMA News. To read the rest, open the article on the publisher's site.