THE PHILIPPINES will use its chairmanship of Association of Southeast Asian Nations (ASEAN) to push for private-sector leadership in job creation and financial inclusion, the Department of Finance (DoF) said.
“My conviction is that the government should be an enabler of business,” Finance Secretary Frederick D. Go said in a statement on Tuesday.
“The government’s role is to strengthen the fundamentals of our investment environment and make it conducive for the private sector to grow, invest, and partner with the public sector,” he added.
He said the Philippines, as chairman of ASEAN, will push for strengthening partnerships with business to drive employment and widen access to financial services, particularly through investments in infrastructure and connectivity.
“As global geopolitical tensions continue to disrupt economies worldwide, it is now more than ever crucial for ASEAN leaders and businesses to work together to mobilize long-term capital and foster sustainable growth across the region,” the DoF said.
Last week, Mr. Go and Bangko Sentral ng Pilipinas Governor Eli M. Remolona, Jr. co-chaired the ASEAN Finance Ministers’ and Central Bank Governors’ Meeting alongside ASEAN Business Councils.
“The discussions highlighted that the US’s strengths in public-private partnerships, blended finance, and risk-sharing mechanisms can be leveraged to fund critical infrastructure, strengthen regional connectivity, and support high-impact sectors,” the DoF said.
“The talks also highlighted the growing role of technology and artificial intelligence in driving efficiency, enhancing financial services, and enabling businesses to compete in an increasingly digital economy,” it added.
Mr. Go also pushed for stronger European Union-ASEAN cooperation, citing the former’s strengths in digital and sustainable finance to expand access for small businesses and accelerate climate action.
“Ultimately, these initiatives will boost cross-border trade and investment, broaden access to financial services — especially for underserved communities — helping build a more integrated and resilient ASEAN economy,” the DoF said. — Justine Irish D. Tabile
