Socioeconomic Planning Secretary Urges Multinationals to Invest in PH

Secretary for Socioeconomic Planning Ernesto Pernia (center) is flanked by Director of Government Relations for Gilead Sciences Claudio Lilienfield (right), and Senior Vice President and Chief Marketing Officer of Xylem, Inc. Joseph Vesey (left). Photo by NY PCG

NEW YORK 20 April 2018 – The Philippine Consulate General in New York, Philippine Trade and Investment Center, and New York-based Business Council for International Understanding (BCIU) conducted a round table discussion with Secretary of Socioeconomic Planning Ernesto Pernia at New York’s Harvard Club on 10 April to discuss investment opportunities in infrastructure development and pharmaceuticals manufacturing, and the Philippines’ journey towards becoming a high middle-income state.

Secretary Pernia highlighted the Philippine government’s plan to remove existing foreign equity limits such as those in infrastructure development.  He shared that the Philippines is keen on exploring various modalities in infrastructure investment such as public-private partnerships, build-operate-transfer, and design-build-operate.

Senior officials from top multinational companies such as Citibank, Pfizer Inc., Philip Morris Intl., Gilead Sciences, Anthem Group, Denham Capital, Xylem Inc., Global Strategic Associates, and I Squared Capital expressed their interest to invest in the Philippines following their interaction with Secretary Pernia. END

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