Representatives from the Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI) attended the 50^th Philippine Business Conference & Expo (PBC&E) 2024 organized by the Philippine Chamber of Commerce and Industry (PCCI) on October 22-23, 2024 at the Marriott Hotel in Manila, Philippines.

The CACCI delegation was led by CACCI Vice President Dr. Alireza Yavari, Director-General Dr. Darson Chiu, Deputy Director-General Mr. Amador Honrado Jr., Senior Officer Ms. Abby Moreno, and two representatives from the Middle East Commercial Association, namely GCC Local Market Manager Milad Hajhossseini and Digital Platforms Manager Mohammad Amin Emamian.

Focusing on the theme “Embracing Innovation, Empowering Business, Enriching Lives”, the 50^th PBC&E 2024 explored sustainable growth strategies essential for businesses to thrive in today’s competitive landscape. A line-up of renowned speakers from both government and business sectors – including Philippine Vice President H. E. Sara Duterte – were invited to address significant industry concerns, particularly in such sectors as ICT, agriculture, science and innovation and tourism.

Program Summary

Day One

The first day of the conference took a look back and assessed what is relevant from the past 50 years and the lessons that stand out, examining where the Philippines is now and what are in store for the future in the lens of future-ready business leaders.

Plenary Session: Looking Forward through the Lens of Future-Ready Business Leaders

The invited speakers noted that the business landscape has been shifting dramatically over the last 20 years, accelerating even faster in 2020 when the COVID-19 pandemic put economies at a standstill. They observed that dynamic changes have given birth to agile, responsible and decisive business leaders who must face an array of challenges – from climate change to technological disruption, to social inequality to geopolitical tensions. The shared their views o how the new generation of business leaders are navigating these challenges – how they are able to see what is coming, capturing opportunities and creating value out of these.

Plenary Session: The Emerging Influence of Asia as a Global Force 

The speaker and panelists agreed that the economic center of gravity continues to move toward Asia, noting that the region’s outward-looking economy and innovation-driven markets have resulted in the rapid rise of the countries in the region led by China and India. They examined the factors that have enabled Asia to influence and shape a new era for its economies and the world, and the key priorities in the domestic agenda for Asia’s emerging countries as they forge ahead in the “Asian Century”.

Day Two

Discussions on the second day focused on the key elements needed for the country to leapfrog to higher economic growth, primarily on technologies and innovation, capitalizing on the demographic dividend, and transforming the agriculture system to sustain and further propel the country’s growth.

Plenary Session: Human Capital Development, An Investment in the Future

The speakers and panelists observed that with the labor force projected to have double digit growth from 2020 and beyond, the Philippines is seen to benefit from a “demographic window of opportunity” to energize its economy and backstop its growth. They agreed that tor the country to capitalize on this opportunity, critical investments must be made in health, education and social welfare. They looked into the challenges and policies and resources needed to strengthen the country’s human capital and secure a future-proof and accelerated economic growth.

Plenary Session: Reshaping the Philippine Agriculture Landscape

The invited speaker emphasized that strengthening the agri-food system is key to ensuring food security for the country, the productivity of farmers, and inclusive and resilient countryside development. He noted that the agriculture (and fishery) sector faces long-standing challenges such as low farm and labor productivity, lack of access to credit and insurances, unsustainable farming practices, weak export performance and lack of diversity, inadequate infrastructure, land fragmentation, climate change and environmental risks, and the different agricultural diseases such as the African Swine Flu. According to him, addressing these hurdles requires a holistic approach. Discussion focused on government’s programs, projects and policies to address the challenges of the sector and realize the vision of a food secure Philippines, and enable farmers and fisherfolks to live productively off their lands and resources.

Breakout Sessions

Breakout Session 1: Shaping the Future of Entrepreneurship through Dialogue with Entrepreneurs, Support Networks, and Policymakers

Organized by the Philippine Young Entrepreneurs Association, the session consisted of two panel discussions:

Panel Discussion 1 addressed the topic “Refining Entrepreneurial Support: Revisiting Key Insights”. The panelists revisited the key takeaways from the inaugural “Build to Last” mini-conference, where early-stage founders and growth-stage enterprises explored challenges and opportunities in securing funding and team building. They provided updates on their experiences since then, shared progress on addressing identified challenges, and discussed how insights from Investor Networks, Funding Platforms, and University Incubators have been implemented. The discussion aimed to set the stage for identifying remaining gaps and opportunities for further improvement

Panel Discussion 2 delved on “Policy Action for Entrepreneurial Excellence: Crafting Solutions with Policymakers”. Building on the insights from the first panel discussion, the session engaged policymakers and key advisors in a critical dialogue aimed at translating recommendations into concrete actions. They focused on developing actionable policy steps to address the issues highlighted by PYEA and the entrepreneurial community. The panelists collaborated to draft and refine policy proposals that enhance the business environment, foster innovation, and support sustainable entrepreneurship in the Philippines. This session primarily aimed to create a clear roadmap for policy improvements and strategic support to position the Philippines as a leading hub for entrepreneurship.

Breakout Session 2: Business Dispute Resolution: The Advantages and Benefits of Alternative Dispute Resolution (ADR) under the International Chamber of Commerce (ICC) Dispute Resolution Services (DRS)

The main objectives of the session were: (a) to inform the business community of the advantages of ADR over court litigation in resolving business dispute; (b) to explain the spectrum of ICC ADR modes and highlight the unique features and advantages of each mode to suit various business exigencies; and (c) to show how ICC DRS has been the worldwide leader in ADR.

Breakout Session 3: Technology for Good – Scaling Sustainability and benefits for SMEs

Organized by the International Chamber of Commerce (ICC), the session discussed how SMEs, without vast resources, can leverage digital technologies and innovations to achieve Sustainability, and gain competitive advantages. Its primary objectives are to:

• Generate insightful discussion on the ESG landscape in Philippines and Asia, highlighting companies benefiting from sustainable practices – potential positive impact on reputation/brand image, cost savings, market positioning, access to preferential financing rates, just transition and greater social responsibility.

• Learn more about various ESG-enabling programs and guidelines available from international organizations the free United Nations ESCAP Sustainable Business Network (ESBN) APAC Green Deal.

• Learn about ESG trends and be part of a hands-on workshop to learn how SMEs can utilize digital technologies like the free Green Deal Digital platform, with a quick practical hands-on activity to preview how one can calculate and create a GHG and ESG report easily, without need to have vast resources.

Side Activities of the CACCI Delegation

The CACCI delegation on October 22 called on Ms. Evariste M. Cagatan, Executive Director, Investments Promotion Services at the Board of Investments under the Department of Trade and Industry of the Philippines. The meeting was arranged by PCCI. The delegation was accompanied by Mr. Edwin Glindro, Deputy Secretary General of PCCI, and Ms. Lyn Gabionza, International Relations Department.

During the meeting, the CACCI visitors had the opportunity to introduce CACCI and its activities to Ms. Cagatan, and highlighted the important role played by PCCI in the founding of CACCI and its continued strong support of the Confederation and its activities. They also extended an invitation for Ms. Cagatan to participate in the upcoming 38^th CACCI Conference scheduled to be held on November 11-12, 2024 in Singapore, with the Singapore Manufacturing Federation (SMF) as host.

Ms. Cagatan made a presentation on the current economic situation in the Philippines, discussed the sectors in which foreign investments are encouraged by the government, and the pointed out the incentives offered to foreign investors. These include investments in activities that promote the following:

• Green ecosystems
• Health-related activities
• Defense-related activities
• Industrial Value-chain gaps
• Food Security related activities
• Research & development and activities adopting advances digital production technologies
• Highly technical manufacturing and production of innovative products and services
• Establishment of innovation support facilities

Dr. Yavari offered to disseminate to CACCI members the information contained in Ms. Cagatan’s presentation to help attract investments in the Philippines from CACCI member countries. Ms. Cagatan expressed her appreciation to Dr. Yavari his kind offer.