September 20, 2017, 7:20 pm
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1 Philippine Peso = 0.07179 UAE Dirham
1 Philippine Peso = 2.17553 Albanian Lek
1 Philippine Peso = 0.03474 Neth Antilles Guilder
1 Philippine Peso = 0.33168 Argentine Peso
1 Philippine Peso = 0.02434 Australian Dollar
1 Philippine Peso = 0.03495 Aruba Florin
1 Philippine Peso = 0.03909 Barbados Dollar
1 Philippine Peso = 1.57584 Bangladesh Taka
1 Philippine Peso = 0.03196 Bulgarian Lev
1 Philippine Peso = 0.00736 Bahraini Dinar
1 Philippine Peso = 33.8794 Burundi Franc
1 Philippine Peso = 0.01955 Bermuda Dollar
1 Philippine Peso = 0.02626 Brunei Dollar
1 Philippine Peso = 0.13468 Bolivian Boliviano
1 Philippine Peso = 0.06076 Brazilian Real
1 Philippine Peso = 0.01955 Bahamian Dollar
1 Philippine Peso = 1.25293 Bhutan Ngultrum
1 Philippine Peso = 0.19814 Botswana Pula
1 Philippine Peso = 391.32134 Belarus Ruble
1 Philippine Peso = 0.03905 Belize Dollar
1 Philippine Peso = 0.02381 Canadian Dollar
1 Philippine Peso = 0.01878 Swiss Franc
1 Philippine Peso = 12.19703 Chilean Peso
1 Philippine Peso = 0.12797 Chinese Yuan
1 Philippine Peso = 56.56763 Colombian Peso
1 Philippine Peso = 11.20407 Costa Rica Colon
1 Philippine Peso = 0.01955 Cuban Peso
1 Philippine Peso = 1.80414 Cape Verde Escudo
1 Philippine Peso = 0.42683 Czech Koruna
1 Philippine Peso = 3.47146 Djibouti Franc
1 Philippine Peso = 0.12175 Danish Krone
1 Philippine Peso = 0.92005 Dominican Peso
1 Philippine Peso = 2.16386 Algerian Dinar
1 Philippine Peso = 0.25592 Estonian Kroon
1 Philippine Peso = 0.3448 Egyptian Pound
1 Philippine Peso = 0.45563 Ethiopian Birr
1 Philippine Peso = 0.01636 Euro
1 Philippine Peso = 0.0398 Fiji Dollar
1 Philippine Peso = 0.0144 Falkland Islands Pound
1 Philippine Peso = 0.01438 British Pound
1 Philippine Peso = 0.08637 Ghanaian Cedi
1 Philippine Peso = 0.87373 Gambian Dalasi
1 Philippine Peso = 174.19859 Guinea Franc
1 Philippine Peso = 0.14252 Guatemala Quetzal
1 Philippine Peso = 3.99648 Guyana Dollar
1 Philippine Peso = 0.15278 Hong Kong Dollar
1 Philippine Peso = 0.45582 Honduras Lempira
1 Philippine Peso = 0.12205 Croatian Kuna
1 Philippine Peso = 1.20133 Haiti Gourde
1 Philippine Peso = 5.05786 Hungarian Forint
1 Philippine Peso = 258.65911 Indonesian Rupiah
1 Philippine Peso = 0.06872 Israeli Shekel
1 Philippine Peso = 1.25233 Indian Rupee
1 Philippine Peso = 22.81079 Iraqi Dinar
1 Philippine Peso = 654.02658 Iran Rial
1 Philippine Peso = 2.07584 Iceland Krona
1 Philippine Peso = 2.54613 Jamaican Dollar
1 Philippine Peso = 0.01384 Jordanian Dinar
1 Philippine Peso = 2.17369 Japanese Yen
1 Philippine Peso = 2.00743 Kenyan Shilling
1 Philippine Peso = 1.34064 Kyrgyzstan Som
1 Philippine Peso = 79.2025 Cambodia Riel
1 Philippine Peso = 8.08053 Comoros Franc
1 Philippine Peso = 17.59187 North Korean Won
1 Philippine Peso = 22.0045 Korean Won
1 Philippine Peso = 0.00588 Kuwaiti Dinar
1 Philippine Peso = 0.01603 Cayman Islands Dollar
1 Philippine Peso = 6.62568 Kazakhstan Tenge
1 Philippine Peso = 161.53245 Lao Kip
1 Philippine Peso = 29.42533 Lebanese Pound
1 Philippine Peso = 2.98769 Sri Lanka Rupee
1 Philippine Peso = 2.27717 Liberian Dollar
1 Philippine Peso = 0.25762 Lesotho Loti
1 Philippine Peso = 0.05959 Lithuanian Lita
1 Philippine Peso = 0.01213 Latvian Lat
1 Philippine Peso = 0.02655 Libyan Dinar
1 Philippine Peso = 0.18266 Moroccan Dirham
1 Philippine Peso = 0.34275 Moldovan Leu
1 Philippine Peso = 1.00176 Macedonian Denar
1 Philippine Peso = 26.48554 Myanmar Kyat
1 Philippine Peso = 47.84988 Mongolian Tugrik
1 Philippine Peso = 0.15735 Macau Pataca
1 Philippine Peso = 7.05629 Mauritania Ougulya
1 Philippine Peso = 0.65031 Mauritius Rupee
1 Philippine Peso = 0.30336 Maldives Rufiyaa
1 Philippine Peso = 13.99922 Malawi Kwacha
1 Philippine Peso = 0.34428 Mexican Peso
1 Philippine Peso = 0.08176 Malaysian Ringgit
1 Philippine Peso = 0.25704 Namibian Dollar
1 Philippine Peso = 6.88038 Nigerian Naira
1 Philippine Peso = 0.5933 Nicaragua Cordoba
1 Philippine Peso = 0.15326 Norwegian Krone
1 Philippine Peso = 1.99961 Nepalese Rupee
1 Philippine Peso = 0.02667 New Zealand Dollar
1 Philippine Peso = 0.00752 Omani Rial
1 Philippine Peso = 0.01955 Panama Balboa
1 Philippine Peso = 0.06351 Peruvian Nuevo Sol
1 Philippine Peso = 0.06226 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.05629 Pakistani Rupee
1 Philippine Peso = 0.06996 Polish Zloty
1 Philippine Peso = 110.44762 Paraguayan Guarani
1 Philippine Peso = 0.07117 Qatar Rial
1 Philippine Peso = 0.07527 Romanian New Leu
1 Philippine Peso = 1.12619 Russian Rouble
1 Philippine Peso = 16.18804 Rwanda Franc
1 Philippine Peso = 0.0733 Saudi Arabian Riyal
1 Philippine Peso = 0.15296 Solomon Islands Dollar
1 Philippine Peso = 0.26388 Seychelles Rupee
1 Philippine Peso = 0.13018 Sudanese Pound
1 Philippine Peso = 0.15555 Swedish Krona
1 Philippine Peso = 0.02627 Singapore Dollar
1 Philippine Peso = 0.0144 St Helena Pound
1 Philippine Peso = 0.43405 Slovak Koruna
1 Philippine Peso = 146.59891 Sierra Leone Leone
1 Philippine Peso = 10.88741 Somali Shilling
1 Philippine Peso = 400.87765 Sao Tome Dobra
1 Philippine Peso = 0.17103 El Salvador Colon
1 Philippine Peso = 10.06607 Syrian Pound
1 Philippine Peso = 0.25709 Swaziland Lilageni
1 Philippine Peso = 0.64621 Thai Baht
1 Philippine Peso = 0.04766 Tunisian Dinar
1 Philippine Peso = 0.04368 Tongan paʻanga
1 Philippine Peso = 0.06714 Turkish Lira
1 Philippine Peso = 0.13149 Trinidad Tobago Dollar
1 Philippine Peso = 0.58751 Taiwan Dollar
1 Philippine Peso = 43.66693 Tanzanian Shilling
1 Philippine Peso = 0.51173 Ukraine Hryvnia
1 Philippine Peso = 70.19156 Ugandan Shilling
1 Philippine Peso = 0.01955 United States Dollar
1 Philippine Peso = 0.56626 Uruguayan New Peso
1 Philippine Peso = 157.93589 Uzbekistan Sum
1 Philippine Peso = 0.19498 Venezuelan Bolivar
1 Philippine Peso = 444.15559 Vietnam Dong
1 Philippine Peso = 2.06353 Vanuatu Vatu
1 Philippine Peso = 0.04908 Samoa Tala
1 Philippine Peso = 10.72635 CFA Franc (BEAC)
1 Philippine Peso = 0.05278 East Caribbean Dollar
1 Philippine Peso = 10.62119 CFA Franc (BCEAO)
1 Philippine Peso = 1.9398 Pacific Franc
1 Philippine Peso = 4.88468 Yemen Riyal
1 Philippine Peso = 0.25718 South African Rand
1 Philippine Peso = 101.43667 Zambian Kwacha
1 Philippine Peso = 7.07389 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.
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