Economic team begins Us-canada roadshow

The Marcos administration’s economic team, led by Finance Secretary Benjamin E. Diokno, commenced the Us-canada non-deal roadshow that centered on fostering a deeper understanding of the investment landscape in the Philippines.

During the first leg of the Us-canada roadshow, which took place on July 10 in New York City, the economic managers engaged in extensive discussions with asset management companies and fixedincome investors.

According to the Department of Finance, discussions delved into various investment opportunities in the Philippines and showcased the country’s overall growth outlook.

In particular, the economy team discussed the country’s priority highgrowth sectors, prospects in renewable energy and green investments, as well as environmental, social, and governance (ESG) issuances.

Accompanying Diokno were Budget Secretary Amenah F. Pangandaman, Bangko Sentral ng Pilipinas Governor Eli M. Remolona, National Economic and Development Authority Secretary Arsenio M. Balisacan, and National Treasurer Rosalia V. de Leon.

In addition, the economic team engaged in discussions regarding the Maharlika Investment Fund.

Last July 7, Diokno said they “cannot avoid” discussing the Maharlika fund during their roadshows as it plays a crucial role in the country’s long-term economic strategy.

But according to Diokno, investor briefings are more keen on the government’s ambitious infrastructure program.

“They want to understand the rules of the economy… the rules of the game. Where can they come in,” the finance chief said.

After New York City, the economic managers are also scheduled to host a Philippine Economic Briefing in Toronto, Canada, on July 13.

Diokno cited mining as an attractive sector for Canadian investors, considering it is one of Canada’s strongest industries.

Recognizing the substantial population of Filipinos in Canada, Diokno said he is optimistic that there would be a strong interest in the government’s upcoming offering of retail dollar bonds.

The Philippine economic team’s nondeal roadshow in Toronto also marks a milestone as it is the first-ever engagement of its kind in Canada.

“This is the first time we are conducting a roadshow in Canada because previously, we did not have a story to tell,” Diokno said.

He said the Philippines has captured foreign investor interest: “Now we are the darling of the world.” (Chino S. Leyco)