November 23, 2017, 7:10 pm
Facebook iconTwitter iconYouTube iconGoogle+ icon
1 Philippine Peso = 0.07222 UAE Dirham
1 Philippine Peso = 2.23697 Albanian Lek
1 Philippine Peso = 0.035 Neth Antilles Guilder
1 Philippine Peso = 0.34334 Argentine Peso
1 Philippine Peso = 0.02609 Australian Dollar
1 Philippine Peso = 0.035 Aruba Florin
1 Philippine Peso = 0.03933 Barbados Dollar
1 Philippine Peso = 1.63992 Bangladesh Taka
1 Philippine Peso = 0.03265 Bulgarian Lev
1 Philippine Peso = 0.00741 Bahraini Dinar
1 Philippine Peso = 34.27689 Burundi Franc
1 Philippine Peso = 0.01967 Bermuda Dollar
1 Philippine Peso = 0.02668 Brunei Dollar
1 Philippine Peso = 0.13491 Bolivian Boliviano
1 Philippine Peso = 0.06405 Brazilian Real
1 Philippine Peso = 0.01967 Bahamian Dollar
1 Philippine Peso = 1.28171 Bhutan Ngultrum
1 Philippine Peso = 0.20626 Botswana Pula
1 Philippine Peso = 393.707 Belarus Ruble
1 Philippine Peso = 0.03929 Belize Dollar
1 Philippine Peso = 0.0252 Canadian Dollar
1 Philippine Peso = 0.01953 Swiss Franc
1 Philippine Peso = 12.51721 Chilean Peso
1 Philippine Peso = 0.13055 Chinese Yuan
1 Philippine Peso = 59.27237 Colombian Peso
1 Philippine Peso = 11.06096 Costa Rica Colon
1 Philippine Peso = 0.01967 Cuban Peso
1 Philippine Peso = 1.84798 Cape Verde Escudo
1 Philippine Peso = 0.42782 Czech Koruna
1 Philippine Peso = 3.47748 Djibouti Franc
1 Philippine Peso = 0.12472 Danish Krone
1 Philippine Peso = 0.93215 Dominican Peso
1 Philippine Peso = 2.25679 Algerian Dinar
1 Philippine Peso = 0.26216 Estonian Kroon
1 Philippine Peso = 0.34612 Egyptian Pound
1 Philippine Peso = 0.53196 Ethiopian Birr
1 Philippine Peso = 0.01676 Euro
1 Philippine Peso = 0.0411 Fiji Dollar
1 Philippine Peso = 0.01485 Falkland Islands Pound
1 Philippine Peso = 0.01485 British Pound
1 Philippine Peso = 0.09043 Ghanaian Cedi
1 Philippine Peso = 0.92566 Gambian Dalasi
1 Philippine Peso = 176.89283 Guinea Franc
1 Philippine Peso = 0.14439 Guatemala Quetzal
1 Philippine Peso = 4.01731 Guyana Dollar
1 Philippine Peso = 0.15359 Hong Kong Dollar
1 Philippine Peso = 0.46264 Honduras Lempira
1 Philippine Peso = 0.12608 Croatian Kuna
1 Philippine Peso = 1.21691 Haiti Gourde
1 Philippine Peso = 5.23442 Hungarian Forint
1 Philippine Peso = 266.33236 Indonesian Rupiah
1 Philippine Peso = 0.06904 Israeli Shekel
1 Philippine Peso = 1.28012 Indian Rupee
1 Philippine Peso = 22.94985 Iraqi Dinar
1 Philippine Peso = 692.86138 Iran Rial
1 Philippine Peso = 2.03638 Iceland Krona
1 Philippine Peso = 2.46903 Jamaican Dollar
1 Philippine Peso = 0.01391 Jordanian Dinar
1 Philippine Peso = 2.2151 Japanese Yen
1 Philippine Peso = 2.03441 Kenyan Shilling
1 Philippine Peso = 1.37082 Kyrgyzstan Som
1 Philippine Peso = 78.99705 Cambodia Riel
1 Philippine Peso = 8.32547 Comoros Franc
1 Philippine Peso = 17.69912 North Korean Won
1 Philippine Peso = 21.59685 Korean Won
1 Philippine Peso = 0.00593 Kuwaiti Dinar
1 Philippine Peso = 0.01613 Cayman Islands Dollar
1 Philippine Peso = 6.50443 Kazakhstan Tenge
1 Philippine Peso = 163.16618 Lao Kip
1 Philippine Peso = 29.60669 Lebanese Pound
1 Philippine Peso = 3.02262 Sri Lanka Rupee
1 Philippine Peso = 2.44897 Liberian Dollar
1 Philippine Peso = 0.2763 Lesotho Loti
1 Philippine Peso = 0.05995 Lithuanian Lita
1 Philippine Peso = 0.0122 Latvian Lat
1 Philippine Peso = 0.02689 Libyan Dinar
1 Philippine Peso = 0.18578 Moroccan Dirham
1 Philippine Peso = 0.34307 Moldovan Leu
1 Philippine Peso = 1.02635 Macedonian Denar
1 Philippine Peso = 26.80433 Myanmar Kyat
1 Philippine Peso = 47.94494 Mongolian Tugrik
1 Philippine Peso = 0.15822 Macau Pataca
1 Philippine Peso = 6.90266 Mauritania Ougulya
1 Philippine Peso = 0.6647 Mauritius Rupee
1 Philippine Peso = 0.30619 Maldives Rufiyaa
1 Philippine Peso = 14.0885 Malawi Kwacha
1 Philippine Peso = 0.37348 Mexican Peso
1 Philippine Peso = 0.08155 Malaysian Ringgit
1 Philippine Peso = 0.27622 Namibian Dollar
1 Philippine Peso = 7.00098 Nigerian Naira
1 Philippine Peso = 0.60177 Nicaragua Cordoba
1 Philippine Peso = 0.16317 Norwegian Krone
1 Philippine Peso = 2.03638 Nepalese Rupee
1 Philippine Peso = 0.02891 New Zealand Dollar
1 Philippine Peso = 0.00756 Omani Rial
1 Philippine Peso = 0.01967 Panama Balboa
1 Philippine Peso = 0.06359 Peruvian Nuevo Sol
1 Philippine Peso = 0.06374 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.06568 Pakistani Rupee
1 Philippine Peso = 0.07087 Polish Zloty
1 Philippine Peso = 110.87513 Paraguayan Guarani
1 Philippine Peso = 0.07473 Qatar Rial
1 Philippine Peso = 0.07785 Romanian New Leu
1 Philippine Peso = 1.16841 Russian Rouble
1 Philippine Peso = 16.36755 Rwanda Franc
1 Philippine Peso = 0.07374 Saudi Arabian Riyal
1 Philippine Peso = 0.15449 Solomon Islands Dollar
1 Philippine Peso = 0.26735 Seychelles Rupee
1 Philippine Peso = 0.13097 Sudanese Pound
1 Philippine Peso = 0.16686 Swedish Krona
1 Philippine Peso = 0.0267 Singapore Dollar
1 Philippine Peso = 0.01486 St Helena Pound
1 Philippine Peso = 0.4367 Slovak Koruna
1 Philippine Peso = 149.85251 Sierra Leone Leone
1 Philippine Peso = 10.99312 Somali Shilling
1 Philippine Peso = 410.64307 Sao Tome Dobra
1 Philippine Peso = 0.17207 El Salvador Colon
1 Philippine Peso = 10.12743 Syrian Pound
1 Philippine Peso = 0.27624 Swaziland Lilageni
1 Philippine Peso = 0.64562 Thai Baht
1 Philippine Peso = 0.04905 Tunisian Dinar
1 Philippine Peso = 0.04547 Tongan paʻanga
1 Philippine Peso = 0.07723 Turkish Lira
1 Philippine Peso = 0.13037 Trinidad Tobago Dollar
1 Philippine Peso = 0.59133 Taiwan Dollar
1 Philippine Peso = 43.93314 Tanzanian Shilling
1 Philippine Peso = 0.51976 Ukraine Hryvnia
1 Philippine Peso = 71.28811 Ugandan Shilling
1 Philippine Peso = 0.01967 United States Dollar
1 Philippine Peso = 0.57699 Uruguayan New Peso
1 Philippine Peso = 158.89873 Uzbekistan Sum
1 Philippine Peso = 0.19617 Venezuelan Bolivar
1 Philippine Peso = 446.39136 Vietnam Dong
1 Philippine Peso = 2.10089 Vanuatu Vatu
1 Philippine Peso = 0.05108 Samoa Tala
1 Philippine Peso = 10.98368 CFA Franc (BEAC)
1 Philippine Peso = 0.0531 East Caribbean Dollar
1 Philippine Peso = 10.988 CFA Franc (BCEAO)
1 Philippine Peso = 1.98682 Pacific Franc
1 Philippine Peso = 4.91504 Yemen Riyal
1 Philippine Peso = 0.2763 South African Rand
1 Philippine Peso = 102.05507 Zambian Kwacha
1 Philippine Peso = 7.11701 Zimbabwe dollar

StanChart hosts first PH investment roadshow

Global banking giant Standard Chartered Bank hosted the Duterte administration’s first international roadshow held Tuesday at Mandarin Oriental in Singapore.

Finance Secretary Carlos Dominguez III, Socioeconomic Planning Secretary Ernesto Pernia, and Budget Secretary Benjamin Diokno, Executive Secretary Salvador Medialdea, together with Bangko Sentral ng Pilipinas Governor Nestor Espenilla, Jr., presented to more than a hundred foreign direct and portfolio investors during the Philippine Economic Briefing, which carried the theme “The Rising Philippine Economy: Powering Gains with Global Partners Through Shared Goals.” 

Standard Chartered underscored the importance of multi-stakeholder partnership to deliver this ambition. 

“Bank-investor-government as a three-way partnership is an even more robust and sustainable partnership. Financial institutions have always played a key role in supporting the country’s infrastructure development, and on a broader scale, the overall growth of the Philippine economy. A well-defined and fair model is one that provides an appropriate risk allocation and addresses the minimum expectations of investors. Infrastructure projects that meet these prerequisites will generate both economic returns and social benefits,” said Standard Chartered Bank Regional CEO for ASEAN and South Asia Anna Marrs.

“We have supported the country’s economic endeavors over the years, participating in the country’s infrastructure projects, liability management, and financing exercises as one of the book-runners in the Republic’s sovereign bond issuances and one of the country’s Sovereign Ratings advisors,” added Lynette Ortiz, CEO and Head of Global Banking Philippines.

The Philippines is regarded as the next economic powerhouse of Asia, with GDP growth expected to hit the 7-8 percent target from 2018-2022, even as inflation is kept at bay.

Sustained and robust growth is targeted to push the country towards upper middle income status by 2022 with a per-capita GNI of at least $5,000, up from $3,550 in 2015. 

Expected growth drivers over the medium term include the government’s bold infrastructure program, higher public spending on social services, and strong household consumption on the demand side, as well as rising activities in manufacturing, business process outsourcing, real estate, construction, wholesale and retail trade, and tourism on the supply side. All of these are anchored on the solid foundation of prudent economic policies and strong macroeconomic fundamentals.

The government officials said that there are a host of investment opportunities in the country that investors may find worthy of exploring. These include infrastructure financing, tourism, banking, wealth management, manufacturing, agriculture and bond market, among others.

“With the Philippines primed to play a key role in the vibrant growth of the AEC (ASEAN Economic Community), the Duterte administration is looking at increased private sector participation in the financing of its projects meant to close the infrastructure backlog, attract investments, create jobs, and achieve financial inclusion,” Finance Secretary Carlos Dominguez III said. 

Dominguez said that “while the government is accessing grants and ODA (official development assistance) loans in the early part of its infrastructure build-up plan, it is looking at the greater involvement of private investors once the big-ticket projects are in place.”

“We have also endorsed for Congressional approval a Comprehensive Tax Reform Program that is designed to help provide a steady revenue flow not only for this ambitious infrastructure program, but also for the Duterte administration’s programs on human capital development and social protection that are geared to accelerate poverty reduction in the medium term,” he said. Meantime, Secretary Pernia harped on sound and growth-enabling policies of the one-year old Duterte administration.

“We are enhancing the ease of doing business by streamlining processes in line agencies. We are strengthening integrity of our public institutions, such as through freedom of information beginning with the Executive branch, to the example, and other anti-corruption initiatives. Government is now much faster in approving big-ticket infrastructure projects, having rationalized certain procedures. All of these result in an environment that is more welcoming to business,” Pernia said. 

Secretary Diokno, on the other hand, highlighted the Philippines’ massive infrastructure program, dubbed “Build. Build. Build,” for which the government intends to spend between US$160 to US$170 billion over the next five years.  Infrastructure projects are aimed at decongesting urban areas and spreading growth opportunities in the countryside, to entice more investments.

“Our infrastructure program is the boldest the Philippines has ever had. With the amount of money we will infuse on expressways, airports, seaports, mass transit systems, among others, the Philippines will enter its Golden Age of Infrastructure. Ambitious as it may sound, the government is keen on realizing this infrastructure agenda,” Diokno said. 

BSP Governor Nestor Espenilla, Jr. said the BSP is keen on contributing to an environment that enables more job-generating investments on a sustainable basis by ensuring price stability as well as financial stability.  He said further that the BSP, recognized as a pillar of strength for the Philippine economy, under his watch will observe the policy of “continuity plus plus.” “This simply means we will build on our strong and stable foundations by instituting additional game-changing financial sector reforms that will complement the economy’s robust and inclusive growth agenda,” Espenilla added.

“Following the full liberalization of the Philippine banking system in 2014, we intend to raise the bar further by having even more competition, which will bring in better innovation, especially digital innovation, and prompt industry players to improve delivery of financial services to consumers. At the same time, we want to champion capital market development. We will do these through an enabling regulatory environment. Given this backdrop, investors in financial services are certainly welcome,” Espenilla said. 

Business leaders from the Philippines, particularly the heads of Ayala Corporation and the Philippine Chamber of Commerce and Industry, added substance to the discussions during the event by participating as panelists during the open forum. The Singapore roadshow is first of a series of economic briefings in Asia that the government plans to hold in the coming months to attract investors to the Philippines.
Rating: 
No votes yet

Column of the Day

Fascinating history (1)

By PHILIP S. CHUA | November 23,2017
‘The physicians at that time did not even know that simple aspirin had any potential role in the prevention or treatment of heart attacks.’

Opinion of the Day

President Duterte remains popular

By NESTOR MATA | November 23, 2017
‘This is despite controversies in almost two years as President of the Philippines.’