Philippines Aims to Be ASEAN Creative Economy Hub

The Philippines is making a concerted effort to position itself as a leading hub for Southeast Asia's burgeoning $300-billion creative economy. During the upcoming ASEAN summit to be held in the Philippines in November, the government plans to propose the establishment of a dedicated Center of Excellence for the creative sector. This center is slated for construction on the 21,000-square-meter Likhang Filipino site in Pasay City, marking it as the second-largest facility of its kind within the ASEAN region. This initiative is viewed as a strategic move to harness the Philippines' rich cultural heritage and diverse talent pool, transforming them into drivers of economic growth. Building on its established strength in the Business Process Outsourcing (BPO) industry, the Philippines aims to create new economic opportunities and enhance its regional competitiveness by intensifying investment and fostering development in the creative fields. The scope of the creative economy is broad, encompassing areas such as film, music, design, game development, and digital content creation. The advancement of these sectors is anticipated to not only generate employment but also bolster the Philippines' international cultural influence. Source: Inquirer Business