Former Trade Secretary Alfredo Pascual is set to receive the highest award from the Joint Foreign Chamber of the Philippines (JFC) next week, in recognition of his work in promoting investments in the country and championing the growth of micro, small and medium enterprises (MSMEs).
The JFC, a coalition of the American, Australian-New Zealand, Canadian, European, Japanese, Korean business chambers, as well as the Philippine Association of Multinational Companies Regional Headquarters Incorporated (Pamuri), said the annual Arangkada Lifetime Achievement Award would be conferred on Pascual during their annual flagship Arangkada Philippines forum on Oct. 24 at the Marriott Grand Ballroom in Pasay City.
Pascual will be the 12th individual to receive the prestigious award.
Previous awardees are former President Fidel V. Ramos (2013), former Philippine Economic Zone Authority Director General Lilia De Lima (2014), business tycoon and philanthropist Washington SyCip (2015), former Ambassador Roberto Romulo (2016), former Bangko Sentral ng Pilipinas Governor Amando Tetangco Jr. (2017), former Senate President Edgardo Angara (2018), Ambassador Delia Albert (2019), Australian-New Zealand Chamber of Commerce Philippines honorary Chair Peter Wallace (2020), Go Negosyo founder Joey Concepcion (2021), former Senate President Franklin Drilon (2022), and Pamurifounder and former Chair Shameem Qurashi (2023).
“We extend our heartfelt congratulations to Secretary Pascual on this year’s Arangkada Lifetime Achievement Award. We have greatly appreciated his partnership in promoting investments and trade between the Philippines and the countries we represent, and we particularly value his work to support micro, small, and medium enterprises (MSMEs) during his tenure,” the JFC said in a statement.
“This award is a testament to his contributions to the acceleration of the country’s economic growth,” the business group added.
According to the JFC, the annual award honors individuals who have contributed to significant and enduring improvements in the conditions and environment for business in the Philippines.
These contributions are recognized under the award whether by word, or deed in the public, private, or nonprofit sector over at least 25 years.
For Pascual, the JFC said it acknowledges his 44 years of public service, especially his most recent achievements as secretary of the Department of Trade and Industry (DTI).
Pascual served as trade secretary from June 2022 to Aug. 2, 2024. He has since joined BDO Unibank Inc. as an independent director.
The business coalition said that under Pascual, the DTI launched a series of successful investment roadshows across the globe.
“These initiatives significantly boosted the country’s visibility on the international stage, drawing investments in key sectors such as renewable energy, information and communication technology, construction, real estate, and logistics,” said the JFC.
Pascual was also cited for his work while holding “pivotal” positions at the Asian Development Bank, Institute of Corporate Directors, and Management Association of the Philippines.
Further, he was commended for showing his “sincere commitment to national development and inclusive progress” during those times, said the JFC.
For his part, Pascual said he was honored to receive the Lifetime Achievement Award, adding that the JFC has been a steadfast partner in the work to promote trade and investments, and in driving meaningful progress to the nation’s economic development.
“I look forward to participating in their forum and speaking about the vital role of investing in the Filipino workforce, an essential driver of our shared vision for a more inclusive, resilient, and globally competitive Philippine economy. Together, we can continue building a future that uplifts every Filipino and enhances our standing in the global market,” Pascual said, as quoted by the JFC.