ASEAN Vision 2020

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ASEAN INTEGRATION TO PHILIPPINE ECONOMY The Association of Southeast Asian (ASEAN) leaders adopted the ASEAN Vision 2020 hoping to strengthen the foundation for a prosperous and peaceful community of Southeast Asian nations while creating a community that lived in shared stability and prosperity. The purpose of establishing an integrated economic community is to accelerate economic growth, enhance trade development in the region, and allow the freer movement of goods, services, skilled labor, and capital. ASEAN member countries expect to achieve greater economic cooperation in the areas of financial policies, trade, and human capital. AEC integration will also serve to promote goods and services, investment, labor mobilization, and mobilization…show more content…
More Trade and Investment Opportunities It is said that there will be trade agreement or intra- ASEAN elimination of tariff protection within the region ASEAN. Therefore, it will give more opportunity to the Philippines to easily export its local products to member of ASEAN in the region. The Philippines remains one of the fastest-growing economies in Asia and is rich in economic resources wherein local products can be made and exported. High production and export of local product results in high GDP of the country. Investments on infrastructure such as ports, airports and better road networks will push down prices - there would be significant improvements in the movement of products and people as the infrastructure and trade environment improves. Also In the years to come, we will see the ASEAN building and improving regional connectivity opening up opportunities to companies we work with here in Philippines. Due to the fast economy growth of the Philippines, foreign investors will be attracted to invest and venture business in the Philippines. 2. More Job…show more content…
The Rise of New Business Sites To accommodate future demands in operations facilities, new growth areas would be maximized, as well as the need to speed up developments of potential growth areas. Possible business sites in the Philippines will be developed due to expansion of business opportunities. 4. The Growing Demand for More and Better Infrastructures The apparent need for more business spaces will bolster the construction industry. Construction companies will race to deliver better offices, retail complexes, and residential areas to support the booming economy. Infrastructure development is essential to the realization of ASEAN’s goal of economic integration, and indispensable to ASEAN’s future success. The development of infrastructure needs to be accelerated to enhance physical connectivity, as well as encourage resource-sharing. To promote cross-border trade and investment, improve countries competitiveness, and raise domestic output, it is important for ASEAN countries to be physically connected through various modes of transportations such as roads, railways, airways, and ports and shipping. An improved and integrated transport and logistic systems in ASEAN is an integral part of the regional integration
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