The ASEAN Business Advisory Council (ASEAN BAC) composed of top executives of private companies from each of the member states meets today with the world leaders led by President Rodrigo Roa Duterte at the Philippine International Convention Center (PICC), November 13, 2017.
Mr. Jose Ma. A Concepcion III, the 2017 Chair of ASEAN-BAC and Presidential Adviser for Entrepreneurship will lead the private sector.
The meeting focuses on inclusive business under its recurrent theme of “Prosperity for All through the empowerment of micro, small, and medium enterprises (MSMEs), the promotion of women and youth entrepreneurship, agriculture, business mentoring and the recommendations of the ASEAN private sector.
The report of the ASEAN BAC will also highlight the importance of the digital economy to ordinary entrepreneurs that comprise 95% of ASEAN’s total business.
The meeting recognizes the important role of the private sector in helping push forward the ASEAN Economic Community (AEC) agenda for freer trade relations and more intra-ASEAN investments and the viability of making MSMEs as the main engine of growth in the region.
Shared prosperity in the region, according to the ASEAN BAC can be promoted through the 3 Ms: Mentorship, Money, and Market.
