June 21, 2018, 8:18 pm
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1 Philippine Peso = 0.06897 UAE Dirham
1 Philippine Peso = 2.04526 Albanian Lek
1 Philippine Peso = 0.03404 Neth Antilles Guilder
1 Philippine Peso = 0.52113 Argentine Peso
1 Philippine Peso = 0.02544 Australian Dollar
1 Philippine Peso = 0.03343 Aruba Florin
1 Philippine Peso = 0.03756 Barbados Dollar
1 Philippine Peso = 1.57728 Bangladesh Taka
1 Philippine Peso = 0.03184 Bulgarian Lev
1 Philippine Peso = 0.00709 Bahraini Dinar
1 Philippine Peso = 32.88225 Burundi Franc
1 Philippine Peso = 0.01878 Bermuda Dollar
1 Philippine Peso = 0.02522 Brunei Dollar
1 Philippine Peso = 0.12883 Bolivian Boliviano
1 Philippine Peso = 0.07009 Brazilian Real
1 Philippine Peso = 0.01878 Bahamian Dollar
1 Philippine Peso = 1.277 Bhutan Ngultrum
1 Philippine Peso = 0.19573 Botswana Pula
1 Philippine Peso = 375.96244 Belarus Ruble
1 Philippine Peso = 0.03752 Belize Dollar
1 Philippine Peso = 0.02494 Canadian Dollar
1 Philippine Peso = 0.01868 Swiss Franc
1 Philippine Peso = 12.01146 Chilean Peso
1 Philippine Peso = 0.12169 Chinese Yuan
1 Philippine Peso = 54.86948 Colombian Peso
1 Philippine Peso = 10.59718 Costa Rica Colon
1 Philippine Peso = 0.01878 Cuban Peso
1 Philippine Peso = 1.78854 Cape Verde Escudo
1 Philippine Peso = 0.41869 Czech Koruna
1 Philippine Peso = 3.33333 Djibouti Franc
1 Philippine Peso = 0.12088 Danish Krone
1 Philippine Peso = 0.93052 Dominican Peso
1 Philippine Peso = 2.20053 Algerian Dinar
1 Philippine Peso = 0.25367 Estonian Kroon
1 Philippine Peso = 0.33502 Egyptian Pound
1 Philippine Peso = 0.51117 Ethiopian Birr
1 Philippine Peso = 0.01621 Euro
1 Philippine Peso = 0.03897 Fiji Dollar
1 Philippine Peso = 0.01426 Falkland Islands Pound
1 Philippine Peso = 0.01425 British Pound
1 Philippine Peso = 0.08833 Ghanaian Cedi
1 Philippine Peso = 0.87962 Gambian Dalasi
1 Philippine Peso = 169.05164 Guinea Franc
1 Philippine Peso = 0.14052 Guatemala Quetzal
1 Philippine Peso = 3.88526 Guyana Dollar
1 Philippine Peso = 0.14739 Hong Kong Dollar
1 Philippine Peso = 0.44866 Honduras Lempira
1 Philippine Peso = 0.1197 Croatian Kuna
1 Philippine Peso = 1.23812 Haiti Gourde
1 Philippine Peso = 5.22103 Hungarian Forint
1 Philippine Peso = 261.46479 Indonesian Rupiah
1 Philippine Peso = 0.06819 Israeli Shekel
1 Philippine Peso = 1.27817 Indian Rupee
1 Philippine Peso = 22.23474 Iraqi Dinar
1 Philippine Peso = 796.99531 Iran Rial
1 Philippine Peso = 2.05333 Iceland Krona
1 Philippine Peso = 2.4507 Jamaican Dollar
1 Philippine Peso = 0.01331 Jordanian Dinar
1 Philippine Peso = 2.06607 Japanese Yen
1 Philippine Peso = 1.89577 Kenyan Shilling
1 Philippine Peso = 1.28255 Kyrgyzstan Som
1 Philippine Peso = 75.84601 Cambodia Riel
1 Philippine Peso = 7.92488 Comoros Franc
1 Philippine Peso = 16.90141 North Korean Won
1 Philippine Peso = 20.8492 Korean Won
1 Philippine Peso = 0.00568 Kuwaiti Dinar
1 Philippine Peso = 0.0154 Cayman Islands Dollar
1 Philippine Peso = 6.40488 Kazakhstan Tenge
1 Philippine Peso = 157.33333 Lao Kip
1 Philippine Peso = 28.26291 Lebanese Pound
1 Philippine Peso = 3.00282 Sri Lanka Rupee
1 Philippine Peso = 2.66254 Liberian Dollar
1 Philippine Peso = 0.2584 Lesotho Loti
1 Philippine Peso = 0.05725 Lithuanian Lita
1 Philippine Peso = 0.01165 Latvian Lat
1 Philippine Peso = 0.02546 Libyan Dinar
1 Philippine Peso = 0.17921 Moroccan Dirham
1 Philippine Peso = 0.31576 Moldovan Leu
1 Philippine Peso = 0.99324 Macedonian Denar
1 Philippine Peso = 25.69014 Myanmar Kyat
1 Philippine Peso = 45.33333 Mongolian Tugrik
1 Philippine Peso = 0.15181 Macau Pataca
1 Philippine Peso = 6.66667 Mauritania Ougulya
1 Philippine Peso = 0.65765 Mauritius Rupee
1 Philippine Peso = 0.29239 Maldives Rufiyaa
1 Philippine Peso = 13.39812 Malawi Kwacha
1 Philippine Peso = 0.3853 Mexican Peso
1 Philippine Peso = 0.07515 Malaysian Ringgit
1 Philippine Peso = 0.25797 Namibian Dollar
1 Philippine Peso = 6.74178 Nigerian Naira
1 Philippine Peso = 0.59151 Nicaragua Cordoba
1 Philippine Peso = 0.15379 Norwegian Krone
1 Philippine Peso = 2.0385 Nepalese Rupee
1 Philippine Peso = 0.0272 New Zealand Dollar
1 Philippine Peso = 0.00723 Omani Rial
1 Philippine Peso = 0.01878 Panama Balboa
1 Philippine Peso = 0.06164 Peruvian Nuevo Sol
1 Philippine Peso = 0.06142 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.28545 Pakistani Rupee
1 Philippine Peso = 0.06993 Polish Zloty
1 Philippine Peso = 106.70047 Paraguayan Guarani
1 Philippine Peso = 0.06835 Qatar Rial
1 Philippine Peso = 0.07565 Romanian New Leu
1 Philippine Peso = 1.1966 Russian Rouble
1 Philippine Peso = 15.95174 Rwanda Franc
1 Philippine Peso = 0.07042 Saudi Arabian Riyal
1 Philippine Peso = 0.14841 Solomon Islands Dollar
1 Philippine Peso = 0.25277 Seychelles Rupee
1 Philippine Peso = 0.33719 Sudanese Pound
1 Philippine Peso = 0.16718 Swedish Krona
1 Philippine Peso = 0.02548 Singapore Dollar
1 Philippine Peso = 0.01426 St Helena Pound
1 Philippine Peso = 0.41701 Slovak Koruna
1 Philippine Peso = 149.29577 Sierra Leone Leone
1 Philippine Peso = 10.57277 Somali Shilling
1 Philippine Peso = 397.4216 Sao Tome Dobra
1 Philippine Peso = 0.16432 El Salvador Colon
1 Philippine Peso = 9.67099 Syrian Pound
1 Philippine Peso = 0.25817 Swaziland Lilageni
1 Philippine Peso = 0.61446 Thai Baht
1 Philippine Peso = 0.04845 Tunisian Dinar
1 Philippine Peso = 0.04326 Tongan paʻanga
1 Philippine Peso = 0.08905 Turkish Lira
1 Philippine Peso = 0.12487 Trinidad Tobago Dollar
1 Philippine Peso = 0.56648 Taiwan Dollar
1 Philippine Peso = 42.59155 Tanzanian Shilling
1 Philippine Peso = 0.49596 Ukraine Hryvnia
1 Philippine Peso = 72.33803 Ugandan Shilling
1 Philippine Peso = 0.01878 United States Dollar
1 Philippine Peso = 0.59211 Uruguayan New Peso
1 Philippine Peso = 147.69953 Uzbekistan Sum
1 Philippine Peso = 1498.59155 Venezuelan Bolivar
1 Philippine Peso = 429.12676 Vietnam Dong
1 Philippine Peso = 2.02911 Vanuatu Vatu
1 Philippine Peso = 0.04869 Samoa Tala
1 Philippine Peso = 10.62592 CFA Franc (BEAC)
1 Philippine Peso = 0.0507 East Caribbean Dollar
1 Philippine Peso = 10.62592 CFA Franc (BCEAO)
1 Philippine Peso = 1.92432 Pacific Franc
1 Philippine Peso = 4.69202 Yemen Riyal
1 Philippine Peso = 0.25823 South African Rand
1 Philippine Peso = 97.4554 Zambian Kwacha
1 Philippine Peso = 6.79624 Zimbabwe dollar

Business, investment opportunities in PH rising

Philippine economic officials held a briefing in New York city last week before a wide range of US-based portfolio and direct investors to showcase rising business and investment opportunities in Asia’s next economic powerhouse. 

While the Philippines and the United States already enjoy significant economic relations – with the US being one of the Philippines’ biggest trading partners and among the major sources of remittances and investments – the officials believe there is much room for business ties between the two countries to grow.

They said potential investors from the US will find doing business in the Philippines attractive, such as in the areas of housing and urban development, manufacturing, connectivity, education services, tourism-related services, financial services, health services, countryside development, and agricultural development. 

Finance Secretary Carlos Dominguez III, who heads the delegation of Philippine economic officials, said: “The Philippines, which has become one of the fastest growing and among the most resilient economies in Asia, faces even more promising times ahead on the back of the government’s massive investments in infrastructure and human capital development along with its steadfast commitment to sound economic management, and the country’s demographic advantage arising from its young and highly educated work force.”

“Foreign investors, including those from the United States, are very much welcome to explore income opportunities in our business-friendly country and be part of our exciting growth story over the medium to long term,” Dominguez said. 

Diwa Guinigundo, Bangko Sentral ng Pilipinas Deputy Governor, cited price stability in the country as well as its healthy external payments position.

“Stable inflation contributes to the overall positive investment climate in the Philippines. Our latest estimates up to 2019 show that inflation, aided by the conduct of prudent monetary policy, will stay well within the target range of 3 percent +/- 1 percentage point.”

“In addition,” Guinigundo said, “our healthy external payments position, marked by manageable balance of payments and ample foreign exchange reserves, gives investors comfort about the Philippines’ resilience to any external risks in the future.”

Socioeconomic Planning Secretary Ernesto M. Pernia said the Philippine government is pursuing transformative initiatives, led by a pipeline of game-changing flagship infrastructure projects that will significantly ease mobility and develop alternative growth hubs across the country’s pivotal urban and rural centers.

“The current Administration is committed to pursuing this aggressive infrastructure investment program over the medium-term to raise the country’s competitiveness and boost the economy, reaching up to 7.3 percent share of GDP by 2022. Investors, both foreign and local, are expected to benefit from the wide-ranging income opportunities now and in the years to come,” Pernia said.

Budget Secretary Benjamin Diokno said the government’s budget program up to 2022 already incorporates the “Build Build Build” program, under which $160 billion to $170 billion worth of vital infrastructure projects will be rolled out over the next five years. 

“The Philippines will use its fiscal space as well as proceeds of the proposed Comprehensive Tax Reform Program to support our bold infrastructure development agenda. We are keen on hitting upper middle income status by 2022 and making our economic growth more equitable partly through infrastructure development. This while we exercise fiscal discipline,” Diokno said. 

Foreign Affairs Secretary Alan Peter Cayetano, who graced the event in support of the economic team’s investor-relations initiatives, said: “The Philippines and the United States have had a long history of friendship, substantiated in part by continually improving economic ties. Not only are American companies doing business in the Philippines, but Filipino conglomerates are also expanding operations in the United States. Through this Philippine Economic Briefing, we welcome more American friends in the business sector to take advantage of rising growth opportunities in the Philippines. Together, let us enjoy the mutual benefits of growing economic relations between the Philippines and the United States. 

Among the private-sector panelists is Jaime Augusto Zobel de Ayala, Chairman and CEO of Ayala Corporation, one of the country’s largest and most diversified conglomerates. 

“As the Philippines continues to be one of the best performing economies in the region and as fiscal measures such as the tax reform bill makes progress, business sentiment in the country continues to be positive.” He added: “We are pleased to see the consistent efforts of the government’s economic team to foster closer trade and investment ties with international partners.”

Citigroup, Deutsche Bank, Morgan Stanley, and Standard Chartered served as hosts of the event. 

Standard Chartered CEO in the Americas Torry Bernsten, who delivered the opening remarks, said: “As one of the Philippines’ international banking partners, it is our privilege to help provide a platform to showcase the country’s economic agenda and be a part of an interactive exchange of insights with our clients, partners, and investors.” 

Citigroup Vice Chairman of Corporate and Investment Banking Jay Collins moderated the panel discussion.  

The eventwas the fourth leg of the international roadshow – the Philippine Economic Briefing that carries the theme: “The Rising Philippine Economy: Power Gains with Global Partners through Shared Goals.” It followed the Singapore leg held in August, as well as the Tokyo and Shanghai rounds in September.
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