LONDON – With the government data released on Thursday morning, showing Philippine Gross Domestic Product (GDP) growth, exceeding the government projection of 6.5 % to 7.5 %, the country’s economic managers were more confident in their bid to attract foreign investors, during the Philippine Economic Briefing (PEB) held on January 26 in Broadgate, London.
(Photos by Ernie Delgado)
“I am proud to announce that we beat our own target. In the fourth quarter of last year, our economy grew by 7.2 per cent, bringing our full year GDP growth rate to 7.6 per cent. This surpasses our own target of 6.5 % to 7.5 %,” said Finance Secretary Benjamin Diokno.
In his keynote message, Diokno also invited the global business community to explore venture opportunities in the Philippines: “We invite the British investing community to explore in venture opportunities in the in the fields of communications, airports, toll roads, agribusiness, renewable energy and shipping.”
Department of Budget and Management (DBM) Secretary Amenah F. Pangandaman presented the priority expenditures in the FY 2023 National budget to investors and how they will play out in the achievement of the objectives outlined in the Philippine Development Plan of 2023-2028.
“The time to invest in the Philippines is now. We have a hard-working administration. We have economic growth. We have peace in Mindanao. And most of all, we have sunshine,” said Pangandaman.
The Philippine Economic managers headed by Diokno assured business leaders and companies that when they think of growth, they can think of the Philippines as they proudly highlighted diverse investment opportunities in the country.
Also present in the briefing, which was moderated by DBM Undersecretary Margaux Marie Salcedo and Bangko Sentral ng Pilipinas Managing Director Antonio Lambino III, Bangko Sentral Governor Felipe Medalla and National Economic and Development Authority Undersecretary Rosemary G. Edillon.
The Philippine economic team kickstarted the economic briefing in Frankfurt, Germany on January 23, Monday and concluded the series in London.