PH economic managers to meet with key US investors

Government economic managers will convince US investors that the Philippines’ growth story is sustainable despite an upcoming change in the administration, the Investor Relations Office (IRO) said.

In a statement, IRO said Bangko Sentral ng Pilipinas Governor Amando M. Tetangco Jr. and Finance Secretary Cesar V. Purisima would deliver the keynote addresses at the Philippines Business and Investment Forum to be held in New York on March 2-4.

The forum, spearheaded by Manila’s envoy to Washington Jose L. Cuisia Jr., “will bring together influential leaders from the Philippine government and private sector, along with their US and relevant international counterparts, for an in-depth analysis of the Philippine economic and political situation, and the opportunities it holds for investors, both in capital markets and in industry,” IRO said.

“The objectives of this forum are to convey the continuity of the administration’s economic policy fundamentals through the next electoral cycle, to evaluate investment plans and specific prospects in strategic sectors, and to provide a platform for direct networking and business,” IRO added.

IRO noted that ahead of the national elections in May, “the international investors’ community is looking at the political panorama that may influence Philippine economic policy.”

Among foreign investors’ top concerns, it said, were “having enough confidence that electoral politics and outcomes will not roll back the successful reforms and gains made in this administration.”

“The Philippines has transformed over the years to become one of the most resilient economies in the world, owing to strong fundamentals that include low and stable inflation, and sound financial system backed by prudent monetary policy and banking supervision,” Tetangco was quoted by IRO as saying.

“Through the Philippines Business and Investment Forum, we will be able to elaborate on how we did it. We will also be able to give potential investors and other observers a picture of where the economy may be headed, as well as the various opportunities that await them,” Tetangco added.

Purisima, for his part, stressed that “the Philippines has a great economic story to tell.”