Long-term planning and sustainable solutions: these were the key themes highlighted at the Virtual Gathering of CCI & CCE Members last May 7, 2021, hosted by the French Chamber of Commerce and Industry in the Philippines. Our Partner U-Yun Wong and Director Anna Rellama served as panel member and moderator, respectively, to discuss important updates in the key economic sectors of energy, construction, infrastructure, and real estate.
Despite the market slowdown in the Philippines brought about by the COVID-19 pandemic, industry leaders from these four sectors expressed utmost confidence in the country’s recovery. Following the panel discussion, the event’s 100+ participants were divided into breakout sessions to directly engage with industry titans and other stakeholders, where key insights into the country’s future emerged:
- Companies no longer need to compromise on cost-efficiency and their recovery to be able to commit to sustainability. In the sectors of energy and construction, specifically, financing mechanisms have now been put into place to make the creation of long-term sustainable solutions possible for many businesses.
- The market slowdown allowed a lot of sectors to rethink their business operations and focus on long-term planning. Industry leaders cited wanting to adhere to more sustainable practices and sourcing better technology ahead of global economic recovery.
- More female Filipino engineers are on the rise and are bringing a much-needed new perspective to these traditionally male-dominated industries.
- This slow period, although intimidating, is a promising opportunity for players to digitize, strategize, and even form beneficial partnerships that will elevate not just these four sectors, but the country’s economy as a whole.
“Now is not the time to give up on the Philippines,” says Rellama. “The country’s socio-economic fundamentals are intact and if you stick around long enough, you may just witness first-hand the growth that will be driven by this emerging economy.”