8 October 2014 – President Aquino’s top economic managers and the Philippine Embassy in Tokyo briefed high-level Japanese executives and investors in a concerted move to raise the country’s investment profile and generate more business opportunities in the Philippines.

The Philippine Economic Briefing was successfully held at the Shangri-La Hotel in Tokyo, Japan on 8 October 2014. Organized by lead agency Department of Finance with support from the Philippine Embassy in Tokyo, the Philippine Economic Briefing gathered the top economic managers of the Aquino administration, led by Finance Secretary Cesar V. Purisima, Economic Planning Secretary Arsenio Balisacan, Public Works Secretary Rogelio Singson, and Tourism Secretary Ramon Jimenez. They discussed recent economic developments and investment opportunities in the Philippines before some 400 Japanese banks, institutional and retail investors, multinational corporations, government officials, and members of the business community in Tokyo.

Under the theme, “Sustaining Inclusive Growth through Infrastructure and Capital Market Development”, the Briefing is an opportunity to share the emerging growth story of the Philippine economy and the results of ongoing domestic reforms under Aquinomics. Through the Briefing, the Philippines hopes to build upon the strong interest of Japanese investors and industries in participating in specific sectors of the Philippine economy, including through investments in the domestic debt and capital markets, banking and finance, energy, tourism, and infrastructure through public-private partnerships.

In his Opening Remarks, Philippine Ambassador to Japan Manuel M. Lopez underscored the potent combination of natural endowments, sound economic management, highly skilled human capital, and reform-minded agenda that has fueled the resurgence of the Philippine economy. He assured the Japanese business community and prospective investors that the enduring strength of the Strategic Partnership between the Philippines and Japan provides a solid foundation upon which to anchor their business relationship with the Philippines.

The Philippine Economic Briefing is sponsored by eight major Japanese banks and financial institutions that currently do business in the Philippines and are seen to expand their operations to take advantage of the further liberalization of the banking sector in the Philippines. In addition to the sponsoring banks, the Briefing also carries the endorsement of the Japanese Ministry of Finance and Ministry of Foreign Affairs, the Japan International Cooperation Agency (JICA), the Japan International Bank for Cooperation (JBIC), and the Japan External Trade Organization (JETRO).

With strong financial backing and official endorsement from Japanese financial and government sectors, a surfeit of attendees from the business community, and a flurry of one-on-one business meetings at the sidelines, the success of the Philippine Economic Briefing validates yet again the deepening bilateral economic ties between the Philippines and Japan and marks another significant milestone in the Embassy’s continuing economic diplomacy agenda.

The members of the Philippine team to the Briefing also include National Treasurer Rosalia de Leon, Transportation Undersecretary Rene Limcaoco, SEC Chairperson Teresita Herbosa, Energy Undersecretary Raul Aguilos, Public Works Undersecretary Rafael Yabut, PPP Center Executive Director Cosette Canilao, National Competitiveness Council Co-Chair Guillermo Luz, Bangko Sentral Assistant Governor Dr. Johnny Noe Ravalo, BIR Deputy Commissioner Nelson Aspe, Tourism Assistant Secretary Benito Bengzon, Investor Relations Office Executive Director Editha Martin, NEDA Assistant Director-General Rosemarie Edillon, Jose Antonio Vilar of the Philippine Stock Exchange, Director Rommel Herrera of Department of Finance, and Economic Officer and Consul Arnel Marcos Sanchez of the Philippine Embassy. – END

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