Philippines, US to host Indo-Pacific business forum in Manila

The Philippines and the United States will host Indo-Pacific’s largest business forum in May aimed at promoting and bolstering regional growth and investments, the US State Department said.

Around 500 business leaders, senior government officials, and other stakeholders from across the region would gather for the 6th Indo-Pacific Business Forum or IPBF on May 21.

The Manila forum would also include a live stream for virtual participation.

“Government and business leaders from the United States, the Philippines, and across the Indo-Pacific will exchange ideas, explore regional government and business partnerships, and discuss commercial opportunities,” a State Department statement said.

IPBF is the US government’s annual commercial event in the region, gathering top leaders from the public and private sectors to review policy developments, disclose new investments, and explore partnerships.

This year’s meeting, the State Department said, will showcase high-impact private sector investment and government efforts to support market competition, job growth, and high-standard development for greater prosperity and economic inclusion in the Indo-Pacific.

“The IPBF advances a vision for an Indo-Pacific region that is free and open, connected, prosperous, secure, and resilient.  The Indo-Pacific region will shape the trajectory of the global economy in the 21st century,” it said.

Accounting for 60% of the world economy and two-thirds of all economic growth over the last five years, the Indo-Pacific is the fastest growing region on the planet.

“Together with our Philippines co-hosts, we are underscoring our sustained commitment to the region and highlighting the economic ties that have contributed to regional prosperity and interconnectedness,” the State Department said.

The US remains a major economic partner in the Indo-Pacific and the top source of foreign direct investment in the region, with nearly $1 trillion in American investments. — VBL, GMA Integrated News