The Philippine economic team led by Finance Secretary Benjamin Diokno will hold briefings in the Middle East this week to attract more foreign investors.
The Department of Finance (DOF) said over the weekend this would come after the successful run of Philippine economic briefings in Europe, the United States, Singapore, Japan and Canada this year.
“The country’s economic team will run a non-deal roadshow and briefings to encourage investors in the Middle East to do business in the Philippines,” the DOF said.
A Philippine dialog is scheduled in Doha, Qatar on Sept. 10, 2023, while the economic briefings will happen in Dubai on Sept. 12, 2023.
Budget Secretary Amenah Pangandaman will present the priority expenditures, especially on addressing climate change, ensuring sustainability and maintaining infrastructure spending at 5 percent to 6 percent of the gross domestic product over the medium term.
National Economic and Development Authority Secretary Arsenio Balisacan will cover infrastructure investment and development, while Bangko Sentral ng Pilipinas Deputy Governor Francisco Dakila Jr. will discuss the performance and outlook of the monetary, external and financial sectors.
The presentations will be followed by a panel discussion on the Philippine economic outlook and investment opportunities to be moderated by Department of Budget and Management Undersecretary Margaux Salcedo and HSBC head of communications in Middle East, North Africa and Turkey Nick Edwards.
The economic team will also engage in small group meetings with various banks, financial institutions and other prospective investors from both countries.
The event is co-organized by the BSP, the DOF, the Philippine Embassy in Doha and Abu Dhabi, the Philippine Consulate General in Dubai, the Philippine Trade and Investment Center Dubai, Dubai Islamic Bank, Citi, Deutsche Bank, Goldman Sachs, HSBC, MUFG, Standard Chartered Bank and other partners.