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JBIC Holds Seminar on Review of the Philippine Economy in 2019 and Outlook for 2020 and Overseas Investment Trends

Opening speech by JBIC's Chief Representative in Manila office BABA Seigo
Presentation by JBIC Strategic Research Department Director KASUGA Takeshi

On January 23, 2020, the representative office in Manila of the Japan Bank for International Cooperation (JBIC), in collaboration with the Japanese Chamber of Commerce and Industry of the Philippines, Inc. (JCCIPI), hosted a "Seminar on Review of the Philippine Economy in 2019 and Outlook for 2020 and Overseas Investment Trends." This seminar was intended for Japanese companies operating in the Philippines and attended by a total of 130 participants from those companies.

The seminar started with the opening speech of JCCIPI Vice President Mr. FUJII Nobuo, and JBIC's Chief Representative in Manila, BABA Seigo. It was followed by a presentation by Mr. UMEBAYASHI, Principal of international management consulting firm Arthur D. Little, regarding the outlook for the Philippine economy in 2020 and the progress of implementation of the 10-point socioeconomic agenda set by the government, as well as President Rodrigo Roa Duterte's centerpiece program "Build, Build, Build," the direction of his administration in the latter half of his term, and the status of tax reform, which is being closely watched by Japanese firms.

Following the presentation, JBIC Strategic Research Department Director KASUGA Takeshi and Deputy Director IKENAGA Azusa explained the results of the "FY2019 Survey Report on Overseas Business Operations by Japanese Manufacturing Companies," which marked the 31st year since it was first conducted. The survey showed that the Philippines came in at seventh place as a promising country for medium-term overseas business operations, moving one rank up from FY2018. They also discussed the issues and characteristics of the investment environment in the Philippines in comparison with its neighboring countries from a mid-to-long-term standpoint, referring to recent changes in the trade and investment environment.

JBIC will continue to proactively provide valuable information that will help and support Japanese companies in their quest for overseas business expansions.

 

Seminar

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