Pasay city: The Department of Social Welfare and Development (DSWD) has called on Member States of the Association of Southeast Asian Nations (ASEAN) to prioritize the region's growing elderly population by building a more inclusive and sustainable silver economy.
According to Philippines News Agency, DSWD Secretary Rex Gatchalian emphasized in his keynote address during the ASEAN High-Level Forum on Unlocking the Silver Economy that the silver economy should not be viewed as a niche market but as a broader initiative to redesign society. Gatchalian highlighted the importance of transforming longer life expectancies into economic and social advantages, rather than sources of exclusion.
Gatchalian, who is also the current ASEAN Socio-Cultural Community (ASCC) chair, pointed out the demographic shift in the region, predicting that over 14.8 percent of ASEAN's population will be aged 60 and above by 2030, with senior citizens expected to reach 127 million by 2035.
While celebrating longer life expectancies, Gatchalian acknowledged the challenges faced by older persons in ASEAN, such as rising living costs, digital exclusion, gender inequality, and lack of retirement savings. He emphasized ASEAN's unique advantage in planning ahead and building systems before crises emerge, leveraging cultural foundations like strong family structures and community solidarity.
Gatchalian stressed the need to modernize these strengths by combining technology with humanity and economic growth with social cohesion. He highlighted the necessity for regional cooperation to ensure older persons live safely, productively, and independently within their communities, advocating for investment in the silver economy.
Gatchalian outlined the importance of cross-border and cross-sector cooperation, involving governments, the private sector, academia, civil society, and development partners. He emphasized that older persons should be at the center of these initiatives, not just as beneficiaries but as active participants in policy creation.
Prioritizing investment in the silver economy to promote active aging is among the DSWD's priorities under its chairship of the 2026 ASEAN-ASCC Council. The forum is conducted by the DSWD in collaboration with various international organizations, including the United Nations Population Fund and the Economic Research Institute for ASEAN and East Asia.
ASEAN members, including Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Singapore, Thailand, Timor-Leste, and Vietnam, are encouraged to participate in these initiatives to support their aging populations.
