16 August 2017 – To ensure continuous positive perception of the country’s growing economy by both investors and the media, the Philippine Economic Team, led by Secretary Carlos G. Dominguez III of the Department of Finance (DOF), conducted a successful economic roadshow to engage investors and the international media in Singapore on 15 August 2017.
This initiative was in coordination with Standard Chartered Bank and international PR firm, Weber Shandwick. This campaign targets key financial and economic centers in Asia, namely Tokyo, Hong Kong, Beijing and Singapore as the first stop.
Secretary Dominguez was accompanied other members of the Philippine Economic Team – Secretary Ernest M. Pernia of the National Economic Development Authority (NEDA), Secretary Benjamin E. Diokno of the Department of Budget and Management (DBM), and Governor Nestor A. Espenilla, Jr. of the Bangko Sentral ng Pilipinas (BSP). They were also joined by private sector partners – Mr. Jaime Augusto Zobel de Ayala, Chairman and CEO of Ayala Corporation; and Mr. George Barcelon, President of the Philippine Chamber of Commerce and Industry (PCCI).
Their series of activities started with a high-level breakfast roundtable hosted by the Singapore Regional Business Forum at the Ritz Carlton Millenia. This was attended by members of the Philippine Economic Team and their private sector partners, such as Ayala, PCCI, etc., as well as Philippine Ambassador to Singapore Antonio A. Morales.
This was followed by interviews of the Philippine Economic Team by international media organizations, such as Bloomberg, CNBC, BBC and Nikkei Asia Review, which were conducted at the Mandarin Oriental.
The Philippine Economic Briefing was then held at the Ballroom of Mandarin Oriental and hosted by Standard Chartered Bank. After the presentations by the members of the PH Economic Team, a panel discussion was moderated by Standard Chartered Bank’s Managing Director and Chief Economist for Asia, Mr. David Mann. Executive Secretary Salvador Medialdea also joined the panel.
“With the Philippines primed to play a key role in the vibrant growth of the AEC (ASEAN Economic Community), the Duterte administration is looking at increased private sector participation in the financing of its projects meant to close the infrastructure backlog, attract investments, create jobs, and achieve financial inclusion,” Finance Secretary Dominguez said.
Among the other initiatives highlighted by the Philippine Economic Team to spur economic growth in the country were the proposed Comprehensive Tax Reform Program, the massive infrastructure program dubbed “Build Build Build”, streamlining government services and enhancing the ease of doing business, and BSP’s efforts to ensure price and financial stability.
The Philippine economic officials also invited potential investors to explore the following sectors in our economy: infrastructure and infrastructure financing, tourism, banking, wealth management, manufacturing, agriculture, and bond market, among others.
