The landscape however, is changing. A single-market ASEAN Economic Community, planned from 2015, will gradually liberalise trade and services, integrate capital markets, and facilitate intra-regional mobility for ASEAN’s 600 million people. This will enhance opportunities for investment and economic growth, but at the same time sharpen competition among ASEAN countries. Benigno Aquino III’s administration and the Philippines’ key business sectors will have to ensure they are prepared for both the benefits and risks of economic integration. 

The Philippines is also not immune to global or regional economic pressures. External markets generally are being affected by the recalibration of monetary flows following the US Fed’s move to taper its expansion of liquidity. Philippine financial authorities have to remain vigilant about domestic credit conditions, while those in charge of trade and industry have to ensure that capital is directed towards the right projects, such as essential infrastructure. 

Is the Philippines ready for ASEAN integration? What are the main risks to continued strong economic and investment growth? What further policies should be adopted to attract institutional capital? What sectors present the most potential for continued expansion? 

These issues will be discussed at the first  Financial Times–First Metro Philippines Investment Summit,a major half-day conference that will gather senior policy-makers, financiers, economists and business leaders to discuss the policy and strategic initiatives required for the Philippines to take full advantage of ASEAN integration and maintain its strong investment performance in a persistently volatile economic and financial environment. The Summit will be chaired by David Pilling, Asia Editor of the Financial Times.