Posted on 03 Apr 2023
SEAISI’s Conference and Exhibition is back! This year, the event will be held in Manila, the capital city of Philippines. It is located in the island of Luzon. Philippines is one of the most vigorous economies in the Asia Pacific region. It has a growing middle class with a large and young population coupled with a strong consumer demand and assisted by a vibrant labour market and robust income. The economy is expected to strengthen in 2023 as the country recovers from Covid-19 and reopening of businesses.1
Climate
The city is sheltered from extreme conditions by hills of Sierra and Madre and the mountains of the Bataan Peninsula. The climate is humid with high temperature and heavy rainfall. The yearly dry season starts from December to May while wet season runs from June to November.2 Geographically, Philippines is in the path of around 20 typhoons a year, which usually happens in the last half of the year.
Economy
The World Bank has projected the GDP of the Philippines to grow around 5.4% in 2023 from its projected 7.2% in 2022. The country is also anticipated to be one of the fastest growing economies in Southeast Asia.3 The Philippines’ government continues to strengthen the economy through the creation of new job opportunities in order to reduce poverty.
Growing Infrastructure
The way towards sustainable development is investment in infrastructure. The government will prioritise infrastructure development as the quality of life in rural and urban communities improves. “Build! Build! Build!, a programme that announced the “Golden age of infrastructure” can create job opportunities, increase investors’ confidence and boost economic activities.4
Electric Vehicles
Electric vehicles (EV) were built to control the greenhouse gas emission and air pollution. EV in the Philippines started to gain recognition from 2019 when 11,950 EVs were registered with the Land Transportation Office. In 2018, Build Your Dream or BYD, a Chinese electric vehicle company launched the fully electric car retailing at US$80,000.5 This is an ideal opportunity to attract investors in EV technology.
Investment Opportunities
Philippines is located near Hong Kong, Taiwan and China. This has led it to become China’s largest trading partner with many projects being carried out.6
Metro Manila Skyway Stage 3
Skyway Stage 3 is an 18.83 km stretch that connects the North Luzon Expressway (NLEX) to the South Luzon Expressway (SLEX). It is an elevated road which was finally opened to the public in 2021. It has helped to reduce traffic congestion in Manila.7
Manila Metro Rail Transit (MRT) Line 7
The Manila Metro Rail Transit (MRT) is currently under construction. The 23 km elevated highway is expected to reduce congestion and travelling time. It is constructed so that residents in Quezon City, Caloocan City, Bulacan, and neighbouring areas are able to reach the metropolis. It is expected to start operating in 2025.8
New Manila International Airport
Located in the Bulacan province of the Philippines, it is expected to be completed in 2027. This airport will help to create jobs, improve local economy, attract investment and boost tourism. It also aims to reduce overcrowding of Metro Manila.8
About Metro Manila
It is the national capital region of the Philippines. The city is influenced by Spanish colonial architecture with world-class museum and galleries. Mixed with different cultures and influences, Manila is filled with live theatre, music, religious processions and night life.
On the dining experience, you may find fresh seafood in Pasay where you can have it prepared in the restaurant itself. Do not miss savouring the street food at the Shipyard in Malate and hole-in-the-wall restaurants of Binondo Chinatown.9
The 2023 SEAISI Conference & Exhibition will highlight sustainable ASEAN steel industry through digitalization, technology and innovation.
Come and join us! We look forward to your participation in this momentous event!
Sources
1 The World Bank Group, 2023
2 Britannica, Manila
3 The Philippines Star, 2023
4 Crown Asia Properties, 2023
5 earthjournalism.net
6 Dezan Shira & Associates, 1992 – 2023
7 Sirqo Group Inc, 2023
8 Verdict Media Limited 2023
9 It’s More Fun in the Philippines 2021
Source:SEAISI
