Philippines Seeks US-Canada Business Boost

Anticipating a robust and sustained recovery ahead, the economic team under the Marcos administration aims to entice American and Canadian businesses to explore opportunities in the Philippines.

During a recent television interview on Thursday night, Finance Secretary Benjamin Diokno revealed that the nation’s economic managers plan to conduct another round of the Philippine Economic Briefing (PEB). This briefing will provide valuable insights into recent economic progress, government spending priorities, infrastructure projects, and recent reforms enacted in the country.

As part of their upcoming itinerary, the economic team will visit Toronto and New York.

This signifies the inaugural PEB in Canada and the second one in New York during the Marcos administration’s tenure.

Under the guidance of the Department of Finance, the PEB serves as a platform for the economic team to update the international business and financial communities about the Philippines’ economic performance, investment opportunities, and the development plan devised by the Marcos administration.

Moreover, it is expected to attract foreign direct investment, investors in the fixed income and equities markets, as well as participants in the infrastructure sector.

Diokno conveyed his confidence in the soundness of the nation’s macroeconomic fundamentals, banking system, and fiscal sector. He emphasized that he has personally witnessed the fluctuations in the Philippine economy and believes that the present circumstances present a favorable moment for growth.

He also underscored the advantageous position of the Philippines with its youthful population, which predominantly possesses fluency in English and a strong command of technology. These qualities are invaluable assets in a world where the population is aging.

In 2023, the economic team commenced the PEB series by organizing briefings in Germany, the United Kingdom, the United States, and Singapore. In the preceding year, PEB events were held in Singapore, New York, and Washington.

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