PRESS RELEASE

Philippine Embassy, Canberra

1 Moonah Place, Yarralumla, ACT 2600
www.philembassy.org.au    *Tel. No. 02-6273-2535*

10 September 2024, SYDNEY – The Philippines, positioned as one of Asia's fastest-growing economies, highlighted its expanding opportunities across key sectors during the ASEAN Showcase held on the second day of the Australia-ASEAN Business Forum on 30 August 2024 at the International Convention Centre in Sydney.

The showcase underscored the Philippines' readiness to capitalize on emerging opportunities, particularly in renewable energy, infrastructure, and digital transformation. Mr. Jack Madrid, President of the IT and Business Process Management Association of the Philippines (IBPAP), spotlighted the country's competitive edge, anchored in its talented workforce amid the global rise of AI technologies.

“We have a demographic advantage, being the youngest country in Asia with an average age of 25.3 years and producing over 700,000 university graduates annually,” Mr. Madrid said. “Our challenge—and opportunity—is to ensure that education systems adapt to future job markets, preparing students for emerging roles.” Mr. Madrid added that despite rapid technological advancements, the Philippines is well-equipped to meet future challenges. “For decades, the Filipino workforce has consistently demonstrated the ability to quickly learn, adapt, and excel across key sectors such as banking, financial services, and healthcare.”

Deputy Director General of the Philippine Economic Zone Authority (PEZA) Vivian Santos presented the Philippines' world-class, eco-friendly economic zones and discussed the establishment of green lanes by the Philippine government to expedite strategic investments. Ms. Santos also emphasized the government’s commitment to creating a conducive environment for investors.

Mr. Rafael Toda, President of the Australia Philippines Business Council, provided updates on the agreements signed during President Ferdinand Marcos Jr.'s visit to Melbourne earlier this year which included MOUs and LOIs on mining, renewable energy, and agriculture.

Australian-New Zealand Chamber of Commerce (ANZCHAM) Philippines President Benjamin Romualdez reaffirmed ANZCHAM’s commitment to fostering sustainable economic ties between Australia, New Zealand, and the Philippines. To this end, ANZCHAM recently led a 15-member business delegation to Melbourne, Brisbane, and Sydney in August 2024. The delegation, composed of key industry players and government representatives, engaged in local briefings and CEO-level discussions with Australian counterparts.

The Australia-ASEAN Forum dedicated the second day to a country showcase and business matching, giving member countries and Australian investors an in-person platform to connect directly.

Fligno Software, a Philippine company based in Brisbane specializing in Fintech and blockchain technology, developed the business matching app for the Australia-ASEAN Business Forum which allowed participants to set up meetings and pursue business leads and opportunities. - END