The Department of Trade and Industry chairs this year’s ASEAN Committee on Business and Investment Promotion (CBIP). For DTI, Undersecretary for the Trade and Industry Promotion Group Nora K. Terrado serves as the Chairperson.
The Committee on Business and Investment Promotion (CBIP) is an inter-agency committee, created to assist the ASEAN-National Organizing Council (NOC) in the Philippines’ hosting of ASEAN 2017 (refer to Administrative Order No.48 s. 2016)1.
The CBIP is responsible for engaging the international business community, investors, government, the ASEAN Business Advisory Council, and other parties. In addition, CBIP is also at the forefront of organizing, as well as supervising potential business and investment-related activities.
The CBIP developed the ASEAN 2017 Business and Investment Program, with events and activities complementing and reinforcing the Philippines' ASEAN 2017 hosting, focusing on Regulatory Coherence, MSMEs, Women and Youth Entrepreneurship, and Innovation.
Promotion and globalization of MSMEs
The competitive environment of ASEAN Economic Community (AEC) requires the MSMEs to strategically enhance their productivity and address the current issues and challenges that ASEAN MSMEs would face in the next decade. This includes fostering an entrepreneurial culture by encouraging Filipinos to invest in their own businesses and become successful and innovative entrepreneurs; enhancement of the innovative capacity of the export sector through an efficient system of national innovation.
AEC is expected to bring benefits to the MSMEs. The region’s integration and its openness to the global economy through its free trade agreements (FTAs) will attract investments from multi-national corporations (MNCs) of ASEAN’s own indigenous, large-scale enterprises, which provide MSMEs with opportunities including those wrought through value-chain integration.
All CBIP programs include MSME participation especially those with high potentials of penetrating the ASEAN and the global market.
In today’s digital revolution, technology and innovation are considered as engines of growth with the stimulation of new industries. ASEAN embraces this challenge. It will help ASEAN economies to enable industries, fuel productivity, and harness the power of its young population.
The Philippine-hosting of the ASEAN 2017 is a strategic opportunity to showcase the rise of innovation and startup ecosystem in the country and the ASEAN region. This can be a platform to create ASEAN value chain, knowledge exchange and cross-border investments. The success of this summit can advance policies that can support and accelerate the innovation agenda.
At present, DTI implements the Startup Ecosystem Development Program (SEDP) which executes programs with other government agencies and the private sector powered by SlingShot Philippines.
ASEAN has maintained its efforts and support in the promotion of the status of women and has participated actively in the regional and international arena pertaining to the advancement of women.
Gender equality and women’s empowerment are integral principles in the ASEAN community building process. In October 2015, the Joint Statement of the 2nd ASEAN Ministerial Meeting on Women (AMMW) in Manila, recognized that “realizing these principles requires the commitment of all ASEAN Members States, sectoral bodies under the three pillars of ASEAN, and stakeholders including civil society, academia, media, and private sectors.”
The UN estimates the Asia-Pacific economy would grow by an additional $89 billion each year if women could achieve their full economic potential. Recent research likewise identified that by advancing gender equality and additional $900 billion could be added to East and South East Asian Economies, and additional 8% growth dividend (McKinsey 2015).
The country (Philippines) ranks as the 7th most gender-equal nation in the world and 21st in economic participation and opportunity according to the 2016 Global Gender Gap Report published by the World Economic Forum.
Through the ASEAN Women Entrepreneurs’ Network (AWEN), DTI provides an avenue for strategic dialogues between ASEAN, the private sector, and dialogue partners in advancing the women’s economic empowerment agenda. It is specifically expected to showcase how women are crucial partners in trade, leadership, and entrepreneurship, among others, supporting the goal set by the ASEAN Economic Community.
Strengthened Campaign for Youth Entrepreneurship
The Philippines aims to strengthen the network among young entrepreneurs from ASEAN and other countries capturing the fast-paced developments on key sectors such as food, agriculture, Information Technology, Fin Tech, Logistics, BPO, start-ups, and Internet of Things (IOT) through the ASEAN Young Entrepreneurs Association (AYEC). It is set to be formally launched during the ASEAN Youth Festival on September. It will serve as the commitment to strengthen ties, foster cooperation, and develop linkages among young entrepreneurs in ASEAN and as well as increased participation of the sector in key activities of the region.