Asean must focus on business, people

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The Perfect Balance Overcoming ASEAN's Challenges in 2026

As ASEAN embarks on a new chapter under the Philippines' chairmanship in 2026, striking the perfect balance between business and people-centric approaches is essential. Achieving this just right blend of economic cooperation, people empowerment, and cross-sector coordination will be crucial for sustaining inclusive growth and driving regional integration.

Sustaining Inclusive Growth A Business Imperative

Asean's Secretary-General Kao Kim Hourn emphasized that ensuring a successful chairmanship hinges on three critical areas business, people, and cross-sector coordination. To create quality jobs, empower micro, small, and medium enterprises (MSMEs), build resilience, and narrow development gaps across the region, the Philippines must prioritize economic cooperation among member states.

By keeping enterprises competitive and people at the center of policymaking, ASEAN can reinforce its relevance, credibility, and unity in a rapidly evolving global economy. With a combined gross domestic product (GDP) of $3.9 trillion and inward foreign direct investment (FDI) of $170 billion in 2025, growth is projected to reach around 4.4 percent in 2026.

Empowering MSMEs The People Imperative

MSMEs are the backbone of ASEAN's economy, employing millions of people and driving innovation. To create a more inclusive and dynamic economic community, the Philippines must prioritize policies that support these enterprises, such as simplified procedures, greater transparency, lower costs, and real market opportunities.

Navigating Complex Challenges Cross-Sector Coordination

As ASEAN begins implementing the ASEAN Community Vision 2045, it's essential to address increasingly complex cross-sector challenges. The Philippines must lead the way in coordinating efforts across sectors, including technology, trade, and climate change.

Asean Business Advisory Council chairman Joey Concepcion emphasized the importance of having a good image during the country's chairmanship. He urged the government to fight corruption and change its perspective on the country. It's not too late to change our image, but moving forward, we really have to fight corruption in this country, he said.

Conclusion

In conclusion, finding the perfect balance between business, people, and cross-sector coordination is crucial for ASEAN's success in 2026. By prioritizing economic cooperation, empowering MSMEs, and navigating complex challenges together, the Philippines can create a more inclusive and dynamic regional economy.

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Edward Lance Arellano Lorilla

CEO / Co-Founder

Enjoy the little things in life. For one day, you may look back and realize they were the big things. Many of life's failures are people who did not realize how close they were to success when they gave up.