Speaking on Monday at the opening of the 41st ASSA Conference and Board Meetings, Veloso, who also serves as ASSA vice chair, highlighted the association’s economic influence, bolstered by the region's robust growth.
He noted that the assets represent not only financial strength but also a strategic opportunity to shape global economic trends.
"The $1.3 trillion in collective assets under our management positions ASSA members as significant players in global capital markets," Veloso said, explaining that this demonstrates gthe group's capacity to influence economic trends and underscores its responsibility to secure these funds amid rapidly transforming economies.
The conference theme, "Navigating the Future of Social Security: Integration, Innovation, and Inclusion," highlighted the challenges posed by the digital economy, shifting employment patterns, and the evolving needs of Asean’s diverse populations, Veloso added.
The meeting comes as Asean maintains its economic resilience, with the Philippines projected to lead the region in growth with a gross domestic product increase of 5.8% to 6.3% in 2024. This economic strength provides a strong base for enhancing social security systems across member nations.
ASSA chair Ahmad Zulqarnain Onn emphasized the importance of strategic capital deployment, saying, “Capital is best deployed when there is great knowledge about the needs of those that require capital and there is great knowledge surrounding how to manage the risks of investments as well.”
Founded in 1998 by seven institutions, including the GSIS, ASSA is marks 26 years of collaboration.
The Philippines is set to assume the chairmanship this year, with Veloso expected to lead initiatives that enhance regional integration and knowledge sharing.
Onn expressed confidence in the transition, saying the group's foundations will be strengthened with the transfer of the chairmanship from Malaysia to the Philippines under Veloso.
“The spirit of partnership defines us,” Onn said. “Under vice chair Veloso, ASSA will continue to build stronger social security systems for the Asean region.”
