Phl to hold econ roadshow in Tokyo

MANILA, Philippines - Members of the Aquino administration’s economic team will hold a one-day roadshow in Tokyo to boost and forge new business ties with Japanese companies.

The roadshow, set on Oct. 8, will showcase investment opportunities for Japanese firms in the tourism, energy and infrastructure sectors as well as in the capital market.

The Philippine delegation will be led by Finance Secretary Cesar Purisima, Socioeconomic Planning Secretary Arsenio Balisacan, Public Works and Highways Secretary Rogelio Singson, Tourism Secretary Ramon Jimenez Jr., and Securities and Exchange Commission chair Teresita Herbosa.

The event aims to showcase the Philippines’ economic performance as well as give an update on the country’s development plans and targets for the medium term.

President Aquino’s top economic managers will also discuss the measures taken by the government to bring down fiscal deficit as well as the income potentials from investing in priority sectors of the government.

“There have been exciting developments for the Philippine economy over the past four years, and even more exciting things are expected to happen over the medium term as the agenda of good governance, infrastructure development and social progress continue,” Purisima said in a statement.

“We would like to share the positive outlook to investors and fund managers in Japan, and tell them it is worthwhile to do business in the Philippines,” he added.

From being a sick man of Asia to one of the greatest economic comeback stories, the Philippines hogged the limelight with its stellar growth performance despite a stagnant global economy.

The country’s gross domestic product (GDP) expanded by an average of 6.3 percent from 2010 to 2013, making it one of the fastest growing economies in Asia.

Reforms undertaken by the Aquino administration led to a series of upgrades in sovereign credit and competitiveness ratings.