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MANILA, Philippines – The Philippines’ transformation from the “sick man of Asia” into a rising economic star has attracted foreign investors.
But a high-level business delegation urged Filipino-Americans to contribute to the Philippines’ economic growth and take advantage of the improved business climate in the country.
Members of the 3rd Private Sector-Led Philippines Investment Roadshow led by noted economist Dr. Bernardo Villegas met with the Filipino-American community in Atlanta, Georgia to discuss opportunities for Filipino-Americans to play an active role in the country’s continued development.
According to a news release from the Philippine embassy in Washington DC, the meeting was part of the Philippines: Asia’s New Emerging Tiger business forum.
Among the participants were Fred Austria, president of DMCI; Bong Borja, president of Expert Global; Martin Pascual, director of Pascual Laboratories; and Phillip Romualdez, president of the Chamber of Mines of the Philippines.
In his presentation, Villegas gave an overview of the positive investment climate in the Philippines.
He predicted that the country’s economic growth could expand to 10% to 15% in the next 10 years. Last year, the Philippines posted a 7.2% gross domestic product growth.
Villegas added, “The economy is so strong that even if the people decide to elect a movie star to succeed President Aquino, the Philippines will survive and continue to prosper.”
The delegation said big corporations were not the only ones that can take advantage of the ripe business climate in the Philippines.
Philippine ambassador to the US Jose Cuisia Jr said the estimated 3.5 million Filipinos currently in the United States could play a crucial role in maintaining the country’s upward trajectory by investing in the Philippines.
“I encourage you to consider ‘development investment’ as you make your remittances. You can be a small angel investor to small- and medium-size enterprises in the Philippines that actually comprise the backbone of Philippine business and drivers of growth and employment in your country,” Cuisia said.
The delegation cited investment opportunities in business process and knowledge process operations; information technology; pharmaceuticals and biotechnology; and real estate and construction.
The forum was held at the United Parcel Service auditorium. It was organized by First Secretary and Consul Lilibeth Almonte-Arbez, Trade Counselor Maria Roseni Alvero and Honorary Consul General Raul Donato in collaboration with United Parcel Service, the Metro Atlanta Chamber of Commerce and the Philippine American Chamber of Commerce of Georgia. – Rappler.com
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