The Philippine Economy: What Investors Need to Know

Co-chairs Jaime Zobel and John Negroponte, and Ambassador Jose Manuel Romualdez opened the February 27 “Economic and Business Forum” by welcoming participants, including members of the Management Association of the Philippines and the American Chamber of Commerce.

US-Philippines Society Co-Chair Jaime Augusto Zobel de Ayala delivers opening remarks, 27 February 2024, Makati.

Co-Chair Ambassador John D. Negroponte

Ambassador Jose Manuel G. Romualdez

Professor Karl Jandoc, who heads the U.P. School of Economics, briefed on the Philippine economy, with an assessment that included areas in need of further improvement to enhance competitiveness. Former NEDA Director Karl Chua, now with Ayala Corp., and AmCham’s Ebb Hinchliffe elaborated on the issue of “what investors need to know,” with detailed presentations, including private sector case studies and updates on government measures to cut red tape and streamline pathways for investors. DTI Under Secretary Ceferino Rodolfo provided a fact-filled luncheon briefing that spotlighted areas, including supply chain diversification, that are ripe for investment.

The Philippine Economy Panel speakers, l-r: Karl Kendrick Chua (Ayala Corporation), Moderator Hank Hendrickson (US-Philippines Society), Undersecretary Ceferino Rodolfo (Department of Trade and Industry), Ebb Hinchliffe (AmCham Philippines), and Karl Robert Jandoc (UP School of Economics)

The Business Forum concluded with informative panel presentations on the critical issues of energy availability, cost, sourcing, and distribution. Dr. Majah Leah Ravago, energy expert and newly appointed President of the Development Academy of the Philippines, provided a comprehensive overview of the energy industry and consumption patterns, with projections of future needs, especially for a growing middle class, and prospects for tapping alternative energy sources. Jason Lander, VP of the Chicago-based S&C Electric Company, briefed on latest innovations for upgrading and protecting electrical grids and restoring power distribution following natural disasters. As an example, Lander described S&C’s success in upgrading the resilience of power distribution systems in Florida and Puerto Rico in the face of intensifying tropical storm patterns, drew parallels to the Philippines, and explained how the industry has developed technologies to meet growing consumer needs in an era of climate change challenges.

Dr. Majah-Leah Ravago
Development Academy of the Philippines

Jason Lander
S&C Electric

DTI Undersecretary Ceferino Rodolfo Keynote Luncheon Presentation