Government Service Insurance System (GSIS) President and General Manager Jose Arnulfo “Wick” Veloso is eyeing to harness the ASEAN Free Trade Area (AFTA) in encouraging investments within the region once he assumes post as chairperson of the ASEAN Social Security Association (ASSA).
The ASSA chairmanship will be turned over from Malaysia to the Philippines on Tuesday, the second day of the 41st ASSA Conference and Board Meetings.
At the sidelines of the conference Monday, Veloso said the AFTA is one of the topics that would be discussed among ASSA members.
“What I would rather also build is the ability of the ASEAN Free Trade. Primarily because if you invest in industries that are part of economic growth of the rest of the 10 member countries, then you are going to be able to harness the value of the ASEAN Free Trade Agreement,” Veloso said.
“Harnessing the ability of the ASEAN Free Trade Agreement will really help the rest of us. Primarily because we have long-term funds available and we just need the value of understanding them,” he added.
Established in January 1992, the AFTA aims to eliminate tariff barriers among Southeast Asian nations.
Now that the Philippines is hosting the event, Veloso is confident that other ASSA members will better understand the country’s interests and its industries that need more attention.
“What’s more important is the ability for all of these long-term fund managers also, now that they’re in the Philippines, to understand the key needs of our country: to bring the power cost down, to have infrastructure to be available, food security, healthcare, education facilities,” he said.
However, Veloso said his main priority as the incoming ASSA chairperson is to promote dialogue and understanding, as well as sharing of opportunities among its members.
The three-day conference at the Seda Manila Bay Hotel in Parañaque City features panel discussions, interactive sessions and keynote messages from leading experts and ASEAN leaders.
The outcomes and recommendations from this event will contribute to the broader ASEAN agenda and generate actionable insights and strategies that will strengthen cooperation and drive forward the enhancement of social protection networks across the region.
It is attended by members of the Philippine Social Security Association, composed of the GSIS, Philippine Charity Sweepstakes Office, Social Security System, Philippine Health Insurance Corporation, Home Development Mutual Fund and Employees’ Compensation Commission.
ASSA comprises social security institutions from ASEAN member states. — PNA
