Expectations of political stability and improved infrastructure in East Asia are high and governments must be able to respond effectively to these expectations. The finance ministers of the Philippines and Indonesia discussed this important issue during a session of the World Economic Forum entitled "East Asia Economic Outlook."
"The first thing we must do is ensure political stability," Indonesian representative Muhamad Chatib Basri said. According to Basri, political stability ensures reforms and the latter attract foreign investors to the area.
Philippine Finance Secretary Cesar Purisima added that entrepreneurs do not want "complications" and the role of governments is also to ensure a "stable platform" for business. Another important element, especially for Manila, is the infrastructure, which the Philippines badly needs.
The executive is targeting ports and roads, as well as the need to find a way to obtain a cheaper electricity supply. However, it was repeated at the Forum that the fundamentals in Asia are good and that the area provides good investment opportunities.
The World Economic Forum on East Asia is a three-day event that brings together 600 delegates from 30 countries around the world. It hosts conferences and meetings on many topics, from economics to climate change.
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