Investing in ‘silver economy’ one of ASCC’s top priorities — DSWD chief

Recognizing the increasing aging population in Southeast Asia, the Association of Southeast Asian Nations (ASEAN) Socio-Cultural Community (ASCC) is prioritizing investment in the silver economy to promote active aging among its senior citizens.

Department of Social Welfare and Development (DSWD) Secretary Rex Gatchalian, the 2026 ASCC chair, said this priority will ensure that no sector is left behind in development, including older persons.

“That is part of the ‘I’ of RISE—Inclusive Development—making sure na walang naiiwanan and that the world is aging. Southeast Asia is aging. The Philippines will come to a point that we will also age,” Secretary Gatchalian said during the ASCC press conference at the International Media Center (IMC) in Makati City on Thursday (March 5).

The DSWD’s theme for its ASCC leadership is “RISE ASEAN,” which stands for: Resilient and empowered families; Inclusive development; Smart youth and innovation; and an environmentally sustainable and food-secure future.

According to the ASCC chair, the goal is to encourage the private sector to invest in products and programs for older persons that will allow them to continue contributing to nation-building.

“So now it’s about time, under the chairmanship of our President in ASEAN, we push for investments to be made mula sa private sector para sa mga products and services that can help our active aging,” the ASCC chair pointed out.

“Ang gusto ng ating pangulo, Pangulong Ferdinand R. Marcos Jr., produktibo ang bawat mamamayan sa nation-building. Kaya ang konsepto natin ng silver economy is to get the private sector involved. Sila ang namumuhunan sa mga products and services o sa mga teknolohiya at innovation para masigurado natin na habang tumatanda tayo, eh maging bahagi pa rin tayo ng productive workforce ng ating bansa, or ng ating rehiyon,” the DSWD chief explained to reporters.

Secretary Gatchalian mentioned Brunei Darussalam Permanent Secretary of the Ministry of Culture, Youth and Sports, Her Excellency Hajah Nor Ashikin Binti Haji Johari as having said that there is a golden opportunity for the ASCC to work with the ASEAN Economic Community, one of the three pillars of ASEAN.

“Binanggit rin kanina ng minister from Brunei Darussalam that there’s a golden opportunity to work naman with the economic pillar on getting the private sector to invest in this greenfield or new horizon economy,” Secretary Gatchalian said, noting that the ASCC is also pushing to strengthen cross-sectoral and cross-pillar partnerships.

The DSWD chief said the concrete details about the initiatives for older persons will be discussed in the upcoming high-level forums.

“If you ask me for details, there will be high-level forums wherein more concrete details will be provided. But that’s what those forums are for—to bring technology from the 10–11 countries, to bring in the private sector. Ano ba yung pwede nating gawin? Ano ba yung pwede nating deklarasyon para magkaroon ng investments in this new greenfield economy?” Secretary Gatchalian told the Media.

Aside from active aging, the DSWD chief also shared other initiatives discussed in the 35th ASCC council meeting that include the proposed Manila-ASPECT (ASEAN Strategic Protocol for Emergency and Comprehensive Transformation) Framework for regional disaster response, and thrusts for strengthening the families as the basic unit of society and focus on the smart youth in the digital age. (YADP)

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