February 18, 2018, 3:12 pm
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1 Philippine Peso = 0.07035 UAE Dirham
1 Philippine Peso = 2.03736 Albanian Lek
1 Philippine Peso = 0.0341 Neth Antilles Guilder
1 Philippine Peso = 0.37852 Argentine Peso
1 Philippine Peso = 0.02417 Australian Dollar
1 Philippine Peso = 0.0341 Aruba Florin
1 Philippine Peso = 0.03831 Barbados Dollar
1 Philippine Peso = 1.58755 Bangladesh Taka
1 Philippine Peso = 0.03006 Bulgarian Lev
1 Philippine Peso = 0.00722 Bahraini Dinar
1 Philippine Peso = 33.54368 Burundi Franc
1 Philippine Peso = 0.01916 Bermuda Dollar
1 Philippine Peso = 0.02532 Brunei Dollar
1 Philippine Peso = 0.13142 Bolivian Boliviano
1 Philippine Peso = 0.06189 Brazilian Real
1 Philippine Peso = 0.01916 Bahamian Dollar
1 Philippine Peso = 1.22893 Bhutan Ngultrum
1 Philippine Peso = 0.18046 Botswana Pula
1 Philippine Peso = 383.5249 Belarus Ruble
1 Philippine Peso = 0.03827 Belize Dollar
1 Philippine Peso = 0.02404 Canadian Dollar
1 Philippine Peso = 0.01774 Swiss Franc
1 Philippine Peso = 11.3659 Chilean Peso
1 Philippine Peso = 0.12153 Chinese Yuan
1 Philippine Peso = 54.27203 Colombian Peso
1 Philippine Peso = 10.83966 Costa Rica Colon
1 Philippine Peso = 0.01916 Cuban Peso
1 Philippine Peso = 1.70268 Cape Verde Escudo
1 Philippine Peso = 0.39128 Czech Koruna
1 Philippine Peso = 3.38755 Djibouti Franc
1 Philippine Peso = 0.115 Danish Krone
1 Philippine Peso = 0.93544 Dominican Peso
1 Philippine Peso = 2.16856 Algerian Dinar
1 Philippine Peso = 0.24138 Estonian Kroon
1 Philippine Peso = 0.33716 Egyptian Pound
1 Philippine Peso = 0.52165 Ethiopian Birr
1 Philippine Peso = 0.01543 Euro
1 Philippine Peso = 0.03813 Fiji Dollar
1 Philippine Peso = 0.01366 Falkland Islands Pound
1 Philippine Peso = 0.01366 British Pound
1 Philippine Peso = 0.08656 Ghanaian Cedi
1 Philippine Peso = 0.89866 Gambian Dalasi
1 Philippine Peso = 172.37548 Guinea Franc
1 Philippine Peso = 0.14054 Guatemala Quetzal
1 Philippine Peso = 3.9364 Guyana Dollar
1 Philippine Peso = 0.14982 Hong Kong Dollar
1 Philippine Peso = 0.45019 Honduras Lempira
1 Philippine Peso = 0.11447 Croatian Kuna
1 Philippine Peso = 1.21437 Haiti Gourde
1 Philippine Peso = 4.80326 Hungarian Forint
1 Philippine Peso = 259.67432 Indonesian Rupiah
1 Philippine Peso = 0.06787 Israeli Shekel
1 Philippine Peso = 1.23063 Indian Rupee
1 Philippine Peso = 22.68199 Iraqi Dinar
1 Philippine Peso = 709.84673 Iran Rial
1 Philippine Peso = 1.91667 Iceland Krona
1 Philippine Peso = 2.39444 Jamaican Dollar
1 Philippine Peso = 0.01355 Jordanian Dinar
1 Philippine Peso = 2.03307 Japanese Yen
1 Philippine Peso = 1.93774 Kenyan Shilling
1 Philippine Peso = 1.30544 Kyrgyzstan Som
1 Philippine Peso = 76.53257 Cambodia Riel
1 Philippine Peso = 7.57567 Comoros Franc
1 Philippine Peso = 17.24138 North Korean Won
1 Philippine Peso = 20.41552 Korean Won
1 Philippine Peso = 0.00573 Kuwaiti Dinar
1 Philippine Peso = 0.01571 Cayman Islands Dollar
1 Philippine Peso = 6.12088 Kazakhstan Tenge
1 Philippine Peso = 158.62069 Lao Kip
1 Philippine Peso = 28.83908 Lebanese Pound
1 Philippine Peso = 2.97165 Sri Lanka Rupee
1 Philippine Peso = 2.44272 Liberian Dollar
1 Philippine Peso = 0.22308 Lesotho Loti
1 Philippine Peso = 0.0584 Lithuanian Lita
1 Philippine Peso = 0.01189 Latvian Lat
1 Philippine Peso = 0.02534 Libyan Dinar
1 Philippine Peso = 0.17539 Moroccan Dirham
1 Philippine Peso = 0.31734 Moldovan Leu
1 Philippine Peso = 0.9454 Macedonian Denar
1 Philippine Peso = 25.42146 Myanmar Kyat
1 Philippine Peso = 45.82375 Mongolian Tugrik
1 Philippine Peso = 0.15425 Macau Pataca
1 Philippine Peso = 6.68582 Mauritania Ougulya
1 Philippine Peso = 0.61303 Mauritius Rupee
1 Philippine Peso = 0.29828 Maldives Rufiyaa
1 Philippine Peso = 13.66743 Malawi Kwacha
1 Philippine Peso = 0.35467 Mexican Peso
1 Philippine Peso = 0.07454 Malaysian Ringgit
1 Philippine Peso = 0.22274 Namibian Dollar
1 Philippine Peso = 6.87739 Nigerian Naira
1 Philippine Peso = 0.59195 Nicaragua Cordoba
1 Philippine Peso = 0.14901 Norwegian Krone
1 Philippine Peso = 1.96697 Nepalese Rupee
1 Philippine Peso = 0.02593 New Zealand Dollar
1 Philippine Peso = 0.00737 Omani Rial
1 Philippine Peso = 0.01916 Panama Balboa
1 Philippine Peso = 0.06225 Peruvian Nuevo Sol
1 Philippine Peso = 0.06025 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.11398 Pakistani Rupee
1 Philippine Peso = 0.0642 Polish Zloty
1 Philippine Peso = 106.68774 Paraguayan Guarani
1 Philippine Peso = 0.06973 Qatar Rial
1 Philippine Peso = 0.07198 Romanian New Leu
1 Philippine Peso = 1.08044 Russian Rouble
1 Philippine Peso = 16.10153 Rwanda Franc
1 Philippine Peso = 0.07184 Saudi Arabian Riyal
1 Philippine Peso = 0.14875 Solomon Islands Dollar
1 Philippine Peso = 0.25546 Seychelles Rupee
1 Philippine Peso = 0.34393 Sudanese Pound
1 Philippine Peso = 0.15255 Swedish Krona
1 Philippine Peso = 0.02511 Singapore Dollar
1 Philippine Peso = 0.01367 St Helena Pound
1 Philippine Peso = 0.4254 Slovak Koruna
1 Philippine Peso = 146.16858 Sierra Leone Leone
1 Philippine Peso = 10.76628 Somali Shilling
1 Philippine Peso = 378.35439 Sao Tome Dobra
1 Philippine Peso = 0.16762 El Salvador Colon
1 Philippine Peso = 9.86552 Syrian Pound
1 Philippine Peso = 0.22276 Swaziland Lilageni
1 Philippine Peso = 0.59923 Thai Baht
1 Philippine Peso = 0.04546 Tunisian Dinar
1 Philippine Peso = 0.04238 Tongan paʻanga
1 Philippine Peso = 0.07167 Turkish Lira
1 Philippine Peso = 0.12904 Trinidad Tobago Dollar
1 Philippine Peso = 0.55669 Taiwan Dollar
1 Philippine Peso = 43.02682 Tanzanian Shilling
1 Philippine Peso = 0.51715 Ukraine Hryvnia
1 Philippine Peso = 69.38697 Ugandan Shilling
1 Philippine Peso = 0.01916 United States Dollar
1 Philippine Peso = 0.54521 Uruguayan New Peso
1 Philippine Peso = 156.47509 Uzbekistan Sum
1 Philippine Peso = 477.73945 Venezuelan Bolivar
1 Philippine Peso = 434.75095 Vietnam Dong
1 Philippine Peso = 2.01916 Vanuatu Vatu
1 Philippine Peso = 0.04802 Samoa Tala
1 Philippine Peso = 10.11303 CFA Franc (BEAC)
1 Philippine Peso = 0.05172 East Caribbean Dollar
1 Philippine Peso = 10.11303 CFA Franc (BCEAO)
1 Philippine Peso = 1.81628 Pacific Franc
1 Philippine Peso = 4.78831 Yemen Riyal
1 Philippine Peso = 0.22279 South African Rand
1 Philippine Peso = 99.41571 Zambian Kwacha
1 Philippine Peso = 6.93295 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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