Asean private sector commits to inclusive economic growth

Asean Private Sector Vows to Drive Inclusive Economic Growth Culminating in Holistic Success in 2026

The Association of Southeast Asian Nations (Asean) private sector has pledged to make its economic gains inclusive, emphasizing that they are not just for the wealthy. This commitment aims to achieve holistic success by 2026 and beyond.

During The Manila Times Economic Forum 2026, Asean Business Advisory Council (Asean-BAC) Chairman Jose Maria Concepcion III highlighted the council's focus on several key areas during the Philippines' chairmanship of the bloc. These include agriculture and food security, creative economies, youth development, women's economic empowerment, and digital and AI integration – vital aspects in today's economy.

As the primary platform for the region's private sector to engage with policymakers, advocate for economic cooperation, and advance Asean's integration agenda, Asean-BAC provides business insights and recommendations to Asean leaders.

Driving Inclusive Growth through Entrepreneurship

Among the initiatives planned by the council are activities designed to promote job generation and entrepreneurship. The non-profit organization Go Negosyo, founded by Concepcion in 2005, will launch a new campaign called Trabaho at Negosyo – a job fair and entrepreneurship mentoring event to be held nationwide.

Micro Small Medium Enterprises (MSMEs) account for more than half of the jobs generated globally, making them powerful engines of inclusive growth. Concepcion emphasized that these initiatives would benefit provinces participating in Asean-related activities, extending beyond the National Capital Region.

Regional Economic Integration

Concepcion noted that President Ferdinand Marcos Jr. has requested that all meetings be held in different parts of the country. The council has already begun this initiative, having hosted its 105th Asean-BAC Meeting and the 27th Joint Business Council Meeting in Nasugbu, Batangas.

Upcoming locations for these events include Puerto Galera in Mindoro, Boracay in Aklan, and Oslob in Cebu. Concepcion emphasized that the council wants Asean delegates to experience the beauty of these islands firsthand.

Inclusive Economic Growth The Key to Solving Poverty

Concepcion stressed that making economies inclusive is critical for solving poverty. He noted, The only way we can solve poverty is to make our economies inclusive, and the private sector is committed to that as we pursue regional economic integration.

As Asean's private sector commits to driving inclusive economic growth, they are taking a significant step towards creating a more equitable and prosperous region for all.

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CEO / Co-Founder

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