THE OFFICIAL launch late last year of a new economic bloc by the Association of Southeast Asian Nations (Asean) marked a milestone in its decades-long efforts to transform the dynamic region into a single market and production base.
And while much more needs to be done for the 10 member-states to achieve a “true single market,” Philippine companies can already take advantage of the lucrative trade and investment opportunities presented by the establishment of the Asean Economic Community (AEC).
Within AEC, as defined by Asean, there will be a free flow of goods, services, skilled labor, investments and capital.
Ceferino S. Rodolfo, managing head of the Board of Investments (BOI), said companies engaged in the manufacture of processed food products, services, and retail are among those that are likely to benefit significantly from an economically integrated region.
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“The opportunities are still in the manufacturing sector, particularly for food products, as well as services and retailing. It really depends on the market they want to tap,” Rodolfo told the Inquirer.
Asean hub
