TIM eMagazine Vol . 3 Issue 1
APBC welcomes PH delegation to Australia
DFA Secretary Allan Peter Cayetano ( standing , 5th from left ) with DTI Secretary Ramon Lopez ( standing , 4th from right ) witnessing the signing of Letter of Intent ( LOI ) of the technology company Fleet Logic declaring the company ’ s plan to assemble Global Positioning System ( GPS ) Devices in the Philippines for export .
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HE Australia-Philippines Business Council ( APBC ) welcomed the Philippine delegation to Australia led by Department of Trade and Industry Secretary Ramon Lopez and Department of Foreign Affairs Secretary Allan Peter Cayetano through a welcome reception participated in by Australian and Philippine business leaders on 16 March 2018 in Barangaroo , Sydney , Australia .
Secretary Cayetano and Secretary Lopez witnessed the signing of Letters of Intent ( LOIs ) to invest in the Philippines from different private sector leaders / firms planning to maximize the Philippines ’ growing economy . Investment includes setting up of an assembly plant for GPS tracking devices , development of a US $ 10 million biomass power plant , and construction of a US $ 30 million hotel and residential place in Cebu .
Australia ’ s Macquarie Bank Chairman Peter Warne , Chairman of TMIP Holdings David King , ANZ Philippines CEO Anna Green , AUSTAL CEO David Singleton were among the Australian business executives present . Philippine business leaders like Mr . Jose Concepcion III and SM Investment ’ s Ms . Teresita Sy-Coson were among the Filipino executives in attendance .
In his address to the business community , Secretary Lopez highlighted government ’ s support programs for micro , small , and medium-sized enterprises ( MSMEs ) and its initiatives that ensure the growth , development , and competitiveness of these enterprises . He shared DTI ’ s Negosyo Centers , Pondo Para sa Pagbabago ( P3 ), Shared Service Facility ( SSF ), market access initiatives that provide permanent space for MSME products , and online digital space programs , which are summed up in the DTI ’ s 7M strategy on MSMEs .
Secretary Lopez shared that increasing the trade base between Australia and the Philippines should be based on complementarity of industries and sectors where growth will be highly recorded . Some examples he gave were on agri-based commodities , ship-building , construction ( Build , Build , Build ), and IT and Business Process Management Services ( IT-BPM ).
In his closing remarks , Secretary Lopez shared the Philippines ’ economic breakout , supported by growth in GDP , manufacturing , consumer confidence , among others . He also emphasized the enhancement of domestic policies , with new regulations adopted to ensure competitiveness of businesses and industries .
Secretary Lopez also cited the recently issued tax law ( TRAIN ), where individuals are expected to have bigger take-home pay . With its
Participants during the welcome reception hosted by APBC on 16 March 2018 .
implementation , it is expected to build a wider consumer base with higher buying capacity leading to greater opportunities for businesses . Secretary Lopez reiterated that the Philippines is open for business , with DTI ’ s core task of bringing more job-generating opportunities for all Filipinos .
During the event , APBC President Ed Alcordo expressed APBC ’ s gratitude for the Philippine government ' s commitment in strengthening bilateral ties between Australia and the Philippines where foreign and economic relations have grown through 70 years of friendship , with a comprehensive partnership agreement signed in 2015 .
At the end of the welcome reception , a meeting attended by Secretary Lopez , DFA Secretary Cayetano and AUSTAL CEO David Singleton was held . Mr . Singleton shared AUSTAL ’ s shipyard operations in Cebu and its plan to expand its operations in the Philippines . AUSTAL makes fast , lightweight aluminum boats for civilian and military use . They are the sole foreign company supplying Aluminum-hulled ships to the United States Navy . Mr . Singleton shared that they make ships in the Philippines for export to customers in Germany , Australia and many other overseas clients who require high quality shipbuilding .
The business reception was organized by the Australia Philippines Business Council ( APBC ) and the Philippine Trade and Investment Center ( PTIC ) in Sydney . dti . gov . ph
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