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18th Philippine Summit
Bouncing back better
October 2023

Among the economies in Asia, the Philippines represents one of the greatest potentials to outperform. Its young population is a big plus. Entrepreneurship is rife with a vast underground economy that’s a backbone supporting its consumption-led economic growth. It also, ironically, insulates the Philippines from the worst of turbulence in global markets.

Yet, in order to bounce back better, it needs to overcome age-old challenges such as inadequate infrastructure, insufficient investments, and, upgrading the quality of both. It needs to remove red tapes that remains a business bugbear, and it needs to rebrand itself as a destination of choice for tourists looking for sun, sea, surf, and shopping not only with catch phrases and jingles but also in deed.

As the economy reopened, domestic consumption has accelerated. On the back of overseas Filipino remittances and a thriving business in process outsourcing for multinationals, the economy is expected to grow by 6.5% to 7.5% in 2022. With predictions of a recession in a third of economies globally in 2023, economic expansion is set to slow to 5.7% in 2023, according to early forecast from the World Bank.

Much as in the rest of the region, inflation, rising commodity prices, supply chain disruptions, are macro challenges that confront the country. They will test the mettle of policymakers, and the agility of private business. They also will make life more difficult for the most vulnerable in the community.

Still, a feature of the fabric that knits the Philippines together is its resiliency. For example, there is renewed optimism that when it comes to infrastructure, the private sector is likely to play a bigger part. One area that is especially attractive is the country’s low-carbon transition.

As the Philippines is vulnerable to climate change, calls for greater financing for climate resilience have gained more urgency. A sustainable finance ecosystem has been established to synergize public and private investments in green projects. Impact investing is emerging as an alternative asset class.

Meanwhile, with a young and tech-savvy workforce, the country also is seeing rapid digital adoption. Closing the digital infrastructure gap also key as a catalyst for economic regeneration transforming businesses big and small to take advantage of the digital era.

What’s next for the Philippines and how is it bouncing back better? The Asset Events is pleased to be hosting The Asset Philippine Summit. Now in its 18th year, the Summit will gather the country’s leading thought leaders in the finance and economic spheres to discuss critical issues such as:

  • How are the economic managers facing the challenging task of supporting recovery? 
  • What is the role of the capital market?
  • Which are the leading companies and what’s behind their success in navigating the changed landscape?
  • What are the ways to encourage private sector participation in addressing the digital infrastructure gap?
  • How will the country carry through its climate transition plans? 



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