"The Philippines is ready for ASEAN 2026!"
This was the headline message of Department of Budget and Management (DBM) Secretary Amenah F. Pangandaman, who led the panel titled "A Moment to Lead: ASEAN 2026 and the Philippines" at the ASEAN Inclusive Growth Summit organized by the ASEAN Business Advisory Council in collaboration with Mastercard on October 24, 2025, in Kuala Lumpur.
Secretary Pangandaman was joined by Mindanao Development Authority (MinDA) Secretary Leo Tereso A. Magno and SM Investments Corp. President and CEO Frederic C. DyBuncio.
The Budget Chief explained that ASEAN 2026 will continue the momentum for inclusive growth propelled by ASEAN 2025 hosted by Malaysia: "ASEAN continued to demonstrate resilience with a growth of 4.7 percent in 2024, higher than the global average. As host of ASEAN 2026, the Philippines will definitely push to improve this, in line with the ASEAN Community Vision 2045 to make ASEAN the fourth-largest global economy."
She likewise shared the Philippines' strategy of investing 5 to 6 percent of GDP in infrastructure, including investments in the country's digital transformation towards economic growth.
Secretary Pangandaman also highlighted the importance of Private-Public Partnerships (PPP), acknowledging the great role that the private sector has played in bringing ASEAN economies to high growth levels: "We need not just a whole-of-government approach but a whole-of-nation approach to achieve our economic objectives.”
The Budget Secretary, who hails from Marawi in Mindanao, also championed Mindanao as an investment destination: "Mindanao is ready for business! Everyone, go to Mindanao and open your business there!"
Along with co-panelist MinDA Secretary Magno, she highlighted the launch of the PPP program in Mindanao last September.
On inclusive growth, the theme of the summit, Secretary Pangandaman stressed that the administration of President Ferdinand R. Marcos Jr. has increased its support for human capital development, underscoring its importance as an inclusive growth strategy.
"Through a whole-of-nation approach, our education sector spending will be Php 1.224 trillion (USD 21.47 billion) for 2026, which is at least 4 percent of our GDP, the highest budget for basic and higher education to date, allowing us to hire more teachers, double the teaching allowance, invest in scholarships for higher learning, and set up Child Development Centers nationwide to prevent stunting," the Budget Chief explained.
Pangandaman added that the goal for the Philippine economy is “to achieve single-digit poverty levels by 2028, which translates to lifting roughly 5 million Filipinos out of poverty.”
"If we are able to harness the 350 million-strong manpower in all our ASEAN countries through more jobs, this will certainly propel our growth and also be a strong impetus to lift the over 68 million poor in ASEAN out of poverty," the Secretary said in conclusion.
The Philippines assumes the chairmanship of ASEAN in 2026.
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