ASEAN business council, Mahathir discuss economic ties

MANILA, Philippines — Members of the ASEAN Business Advisory Council Philippines and business leaders met with Malaysian Prime Minister Mahathir Mohamad on Thursday to discuss how to further strengthen economic ties between Malaysia and Philippines.

Mahathir was in the Philippines for an official visit on the invitation of President Duterte to discuss political, economic and social cooperation between the two countries. 

ASEAN Business Advisory Council Philippines chairman and presidential adviser for entrepreneurship Joey Concepcion first thanked the Malaysian leader for taking time to meet and support the business sector. Concepcion also thanked him for being instrumental in the peace process in Southern Mindanao.

The discussion revolved around the economic relations of Malaysia and Philippines through infrastructure investments and exchange of goods and services between the two countries. 

ASEAN BAC Philippines member and vice chairman of SM Investments Corp. Tessie Sy-Coson opened the discussion on sovereign investment funds.

Sandy Prieto-Romualdez, president of Philippine Daily Inquirer, asked Mahathir on his hopes for ASEAN.

The 93-year-old leader said ASEAN countries must have strong economy to lead the economic growth of the region.

The topic on trade and investments was raised by Filinvest Land president and CEO Josephine Gotianun-Yap. Mahathir agreed that a state must first grow in trade before moving into investments.

Aside from these topics, Mahathir also shared his secrets in maintaining good health despite his age. The meeting became an avenue to hear Mahathir’s wisdom on leadership and foreign relationships.

Selected members of the economic team of Malaysia also joined the meeting. They were joined by their Filipino counterparts: Manny Villar, chairman of Vista Land Corp.; Henry Lim Bon Liong, president and CEO of SL Agritech Corp.; Daniel Zuellig, managing director of FE Zuellig Inc.; Alice Eduardo, president and CEO of Sta. Elena Construction and Development Corp.; Dennis Uy, chairman and CEO of Udenna Corp.; William Belo, CEO and founder of Wilcon Depot; Rosalind Wee, co-founder and vice chairman of W Group; Gil Gonzales, executive director of ASEAN Business Advisory Council; Ginggay Hontiveros-Malvar, adviser on Agripreneurship of Go Negosyo; and Josephine Romero, senior adviser to the ASEAN Business Advisory Council Philippines chairman.