PH sets investment pitch at Asean meet
The Philippines will seek to drum up investments in agriculture, energy, advanced manufacturing and the digital economy as regional business leaders and investors gather in Manila for the Association of Southeast Asian Nations (Asean) Business and Investment Summit on Nov. 14 and Nov. 15.
Also on Friday, the Department of Foreign Affairs (DFA) confirmed the attendance of Brazilian President Luiz Inácio Lula da Silva, who will join Canadian Prime Minister Mark Carney and UN Secretary General Antonio Guterres in the main summit on Nov. 15 to Nov. 18. President Donald Trump is also expected to attend.
“President Lula will attend the Summit” as a guest of President Marcos, the summit chair, DFA spokesperson for Asean issues Dominic Imperial told reporters.
Sectors for expansion
Asean Business Advisory Council (BAC) cochair Michael Tan said the business summit would provide a crucial opportunity for the Philippines to pitch a wide range of projects to prospective investors.
While the council has not set specific investment targets for the summit, Tan said it would take its cue from the government in identifying priority sectors.
“We’re trying to push investment in Pax Silica,” he said at a press briefing on Friday. “I don’t think there will be another event like this in the next decade, so it’s an opportunity for us to showcase the Philippines.”
The business summit will tackle, among other opportunities, the digital infrastructure and semiconductor manufacturing—sectors the Philippines is seeking to develop through initiatives such as the proposed Pax Silica industrial hub in New Clark City.
“There’s already a semiconductor industry here. We would like to broaden that ecosystem,” Tan said. “So the focus should be there.”
Beyond advanced manufacturing, the summit will showcase an initial investment pipeline exceeding $200 million under the Asean Food Security Alliance.
According to Asean BAC, these projects could generate around 30,000 direct and indirect jobs within two years and cover approximately 200,000 hectares of agricultural land.
Business delegations
The council is also advocating greater investment in regional energy infrastructure, particularly the Asean Power Grid, whose transmission requirements are estimated to exceed $100 billion.
Meanwhile, the region’s creative industries, valued at approximately $300 billion in 2025, will be highlighted as another source of economic growth and investment opportunities.
Digital infrastructure and artificial intelligence will likewise feature prominently, particularly with the signing of the landmark Asean Digital Economy Framework Agreement on Nov. 15.
According to Asean BAC, business delegations were already preparing to hold meetings and business matching sessions on the sidelines of the summit. At least 2,000 delegates are expected to join the event.
Mr. Marcos will participate in the summit and Singapore Prime Minister Lawrence Wong has also been invited.
From the private sector, Ayala Corp. chair Jaime Augusto Zobel de Ayala and SM Investments Corp. vice chair Teresita Sy-Coson are among those expected to attend.
Asean BAC chair Joey Concepcion said the Philippines’ hosting would also prioritize the participation of smaller businesses, not just major corporations.
As such, the council has organized complementary entrepreneurship and employment activities under its “Trabaho at Negosyo” initiative to extend the summit’s benefits to micro, small and medium enterprises.
“The difference between this hosting and the previous hosting is inclusivity. To me, that is the most important. Big business cannot just be present in an Asean event,” said Concepcion, who also led Asean BAC when the Philippines last hosted the regional summit in 2017. —WITH A REPORT FROM AFP
