THE economic managers will hold the fourth Philippine Economic Briefing in New York City this week to update leaders of the American business community on key developments of the economy and where they may invest, according to the Department of Finance (DOF).
Finance Secretary Carlos G. Dominguez III said the briefing will be held ahead of the Annual Meetings of the World Bank and the International Monetary Fund, which will bring together the world’s central bankers, ministers of finance and other key government officials in Washington, D.C., to discuss the world economic outlook, aid effectiveness and other relevant concerns.
Executive Secretary Salvador C. Medialdea, secretaries Alan Peter S. Cayetano of the Department of Foreign Affairs, Ernesto M. Pernia of the National Economic and Development Authority, and Benjamin E. Diokno of the Department of Budget and Management, along with Bangko Sentral ng Pilipinas (BSP) Deputy Governor Diwa C. Gunigundo, will join the finance chief in New York City on October 11 for the fourth overseas Philippine Economic Briefing.
Jaime Augusto Zobel de Ayala, the chairman and CEO of the Ayala Group, is expected to take part in the briefing, with the theme “The Rising Philippine Economy: Powering Gains with Global Partners through Shared Goals”.
Deutsche Bank, Citi Group, Standard Chartered Bank and Morgan Stanley will jointly host the New York briefing. Similar briefings were earlier held by the economic team in Singapore, China and Japan to inform business leaders in these countries of investment prospects in the Philippines.
Dominguez, together with BSP Governor Nestor A. Espenilla Jr., will proceed to Washington, D.C., to join other finance chiefs and central bankers from around the globe in the annual meetings of the two institutions.
In Washington, D.C., Dominguez will also speak before the Center for Strategic and International Studies, a policy research institution specializing in United States foreign policy, defense and security, economic integration and trade.
“This is an opportunity for us to present a better-rounded picture of where our country is right now and where we intend to go,” Dominguez said.
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And despite all these so-called roadshows, direct investments are dwindling. Unbelievable.