Asean Integration to Benefit PH Printing Industry

According to manilatimes.net, the Philippine printing industry can take advantage of the Association of Southeast Asian Nations (Asean) economic integration with the regional bloc’s members now looking at more trade in this field, thanks to lower tariffs, capital restrictions, and entry barriers in the region, so said a Board of Investments (BOI) official.
“Within Asean, we have an economic integration in full swing. As home to some of the fastest-growing economies in the world today, there exists a potentially lucrative market opportunity for printing companies” in light of Southeast Asia’s 600 million predominantly young population, BOI Governor Napoleon Concepcion said in a speech at the Asean Printing Forum at the City of Dreams Manila’s Crown Towers Manila hotel in Parañaque City.
He said that, while Asean integration will lead to a large number of industry players, and consequently stiffer competition, bloc members should be able to standardize the quality of the goods and services in a way that these would complement, not compete, with one another.
The BOI governor, however, said that while there is plenty of growth opportunities for the printing industry, its players should be able to adapt to changing market conditions. He noted that they’re being affected by the rise of digital media.
“On a broader front, industry players in Southeast Asia know that if they want to succeed in the long term, they must continue to adapt to ever-changing market and economic conditions. Companies must be able to perform a variety of functions, including printing on paper, plastic, metal, glass and other materials, and typically produce different forms of literature, packaging and labels. This needs a deliberate approach to efficiency and automation, while at the same time learning new skills and adding new value services,” Concepcion said.
He also assured that the government will address the concerns of local printers, saying that it would help them.