The Bangko Sentral ng Pilipinas (BSP) put the spotlight on investment opportunities for investors in Singapore in a roundtable organized by Standard Chartered Bank. BSP Governor Benjamin E. Diokno highlighted key economic liberalization reforms, such as the recently amended Public Service Act (PSA), the amended Foreign Investments Act (FIA), and the amended Retail Trade Liberalization Act (RTLA), which will further open up the Philippine economy to foreign investments.
The meeting was attended by 17 Singapore-based fixed-income and private equity investors, and global corporates from various industries, such as telecommunication, digital infrastructure, real estate, and education, with strategic interests in the Philippines.
During the discussion, the Governor also provided comprehensive updates on the monetary, external and financial sectors. He also addressed questions related to fiscal policy initiatives as the Finance Secretary-designate under the Marcos administration.
“As the incoming Secretary of Finance, I can assure you that the transition will be smooth as the incoming administration pledges continuity of key reforms that the outgoing administration started. With a resounding vote of confidence, the new administration will continue to work for reforms that will further help the country achieve its long-term development objectives.”
As the oldest international bank in the Philippines, Standard Chartered has hosted previous international investment roadshows for the Republic to support its efforts in promoting the country’s improved investment climate and pleased to organize another roundtable discussion to engage with key investors and stakeholders.
Heidi Echtermann-Toribio, managing director and regional co-head, Client Coverage for Asia, Standard Chartered, said, “The Philippines continues to attract interest from a wide range of investors and impactful engagements like these are only possible with a strong commitment from the authorities to keep stakeholders updated. We are delighted to work with the Philippine government to leverage our global footprint and bring together our clients for these exchanges.”
Lynette V. Ortiz, CEO Philippines, Standard Chartered, said, “It was our privilege to showcase the country’s economic agenda and be a part of an interactive exchange of insights with clients, partners and investors. We will continue to support and work closely with the government to build investors’ confidence and promote the Philippines’ competitiveness as a leading investment destination.”
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