NextGen Day

In order to promote the Philippines’ strong economy and entice more investment, President Ferdinand R. Marcos Jr.’s economic team is slated to meet with the Japanese business sector on Friday.

The fourth Philippine Economic Briefing (PEB) is being held from February 8 to February 12 in conjunction with Marcos’ official visit to Tokyo.

The Department of Budget and Management (DBM) issued a statement on Thursday stating that the goal of President Marcos’ visit was to “further develop the strategic partnership between the Philippines and Japan, including economic and defense cooperation.”

The PEB, slated for February 10, would feature discussions about investment potential in the Philippines by the nation’s economic managers, it was noted.

Financial Secretary Benjamin Diokno, Budget Secretary Amenah Pangandaman, Governor of the Bangko Sentral ng Pilipinas Felipe Medalla, Director General of the National Economic and Development Authority Arsenio Balisacan, and the Secretary for Socioeconomic Planning all accompanied Marcos on the trip to Japan.

Diokno would explain the nation’s economic performance and prognosis during the first half of the PEB, while Pangandaman would go through key elements of the 2023 national budget as well as the administration of Marcos’ top legislative priorities and budget reform measures.

A panel discussion with the Philippine economic managers, according to the DBM, would also take place.

The infrastructure and business sectors would be covered in the forum’s second session, it was said.

The Secretaries of Alfredo Pascual (Trade), Manuel Bonoan (Public Works), Christina Frasco (Tourism), and Jaime Bautista (Transportation) will participate as panelists, according to the Budget department.

The keynote address will be given by President Marcos Jr., the DBM announced. Roundtable discussions with corporate executives, the signing of letters of intent or agreements, a luncheon and networking event, and a meeting with the business forum organizers all take place prior to the forum.

At the Philippine Business Opportunity conference, Marcos is scheduled to address “hundreds of top Japanese business professionals.”

According to the Philippine Embassy in Tokyo, the President’s official visit to Japan is expected to result in investment promises worth about PHP150 billion, which might create jobs for up to 8,000 Filipinos.

The economic team of the Marcos administration has so far performed three PEBs. The two prior briefings were held in Singapore and the United States, both in September 2022, and the most recent one was in Europe (Frankfurt, Germany, and London, United Kingdom) in January 2023.

Pangandaman had stated that prior PEBs had received favorable feedback from investors and business executives worldwide.

In the first half of 2023, the Marcos economic team will host a number of briefings to promote the Philippines to the business community in the Middle East, Asia, and Europe.

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