MANILA, (PIA) — President Ferdinand R. Marcos Jr. promoted connectivity and resilience within the Association of Southeast Asian Nations (ASEAN) during his keynote address at the ASEAN Business and Investment Summit on Wednesday in Vientiane, Lao People’s Democratic Republic (PDR).
“For us, connectivity is a necessity and building resilience is a means of survival,” he said.
Marcos emphasized the Philippines’ unique challenges as an archipelagic nation prone to natural disasters, highlighting the country’s efforts to improve infrastructure and digital connectivity.
“From building roads that connect provinces to establishing digital infrastructure, we understand that true connectivity transcends physical links,” Marcos said.
The President showcased recent infrastructure projects, including the Panguil Bay Bridge in Mindanao, which has reduced travel time between two provinces from two hours to seven minutes.
Marcos also stressed the importance of digital connectivity, noting ASEAN’s status as the world’s fastest-growing internet market.
He outlined Philippine investments in a national fiber optic backbone and the opening of the telecommunications sector to foreign investment.
On resilience, Marcos discussed the country’s climate change adaptation efforts, including flood control projects and renewable energy initiatives. He announced targets of 35% renewable energy in the national energy mix by 2030 and 50% by 2040.
The President invited foreign investment in key sectors such as green metals, battery manufacturing, and data centers. He highlighted recent economic reforms, including the Public-Private Partnership Code and efforts to streamline business processes.
Marcos concluded by calling for collaborative efforts within ASEAN to foster inclusive growth and regional progress.
The ASEAN Business and Investment Summit 2024 serves as a platform for dialogue between the private sector and policymakers in Southeast Asia. (JCO/PIA-NCR)
