PH Finance Secretary Diokno Participates in 16th Asian Financial Forum in Hongkong, China
In-Person Speakers at the 16th AFF. Front Row from Left: ADB Director General of the East Asia Department Teresa Kho, OCMFA Deputy Commissioner Yang Yirui, HK Financial Secretary Paul Chan, HKTDC Chairman Dr. Peter Lam, HK Chief Executive John KC Lee (center), PH Secretary of Finance Benjamin E. Diokno, Indonesia Investment Authority CEO Dr. Rodha Wirakusumah, HK Secretary for Financial Services and the Treasury Christopher Hui, BIS Chief Representative Dr. Tao Zhang, and Huatai Financial Holdings (HK) Limited CEO Dr. Levin Wang. (Hong Kong PCG photo)
HONG KONG, 17 January 2023 – Philippine Finance Secretary Dr. Benjamin E. Diokno participated in the 16th Asian Financial Forum (AFF) 2023 held from 11 to 12 January 2023 at the Hong Kong Convention and Exhibition Centre.
AFF is jointly organized by the Government of the Hong Kong Special Administrative Region (HKSAR) and the Hong Kong Trade and Development Council. It is an annual event that serves as a platform for global leaders in government, finance and business to exchange insights about current issues on the global economy. It also serves as a venue to explore business and investment opportunities.
The theme of AFF 2023 is “Accelerating Transformation: Impact • Inclusion • Innovation.” More than 100 global business leaders, policymakers and economists served as speakers to the Forum. It had over 2,000 in-person attendees and 3,000 persons as virtual audience.
In his Opening Remarks, Hong Kong Chief Executive John Lee emphasized that Hong Kong is “going in the fast lane to make up for time... lost in the past few years.” In the past couple of months, it has started its “path of orderly and progressive reopening,” such as by cancelling the hotel quarantine requirement. Since 8 January, normal land travel between Mainland China and Hong Kong has also resumed.
Philippine Finance Secretary Dr. Benjamin E. Diokno, in his remarks during the plenary session on the first day of the Forum, emphasized that despite various economic crises in the past and a future that holds multiple challenges for the global economy, the Philippine economy remained resilient and rebounded to become one of the fastest-growing economies in the Asia Pacific region. Secretary Diokno identified the very important role of policymakers in instituting reforms to stabilize the economy in the long-term, by adopting appropriate monetary and fiscal policies. The Secretary also called on a revitalized United Nations to support a concerted global action to address climate change.
Policymakers, such as national governments and international financial organizations, all agree that today’s challenges—including the current pandemic and the invasion of Ukraine— require global cooperation, especially in view of the interdependent nature of economies.
Despite an uncertain global economic outlook—with downgraded growth forecasts, long-term challenges of climate change, geo-political tensions and a tendency towards deglobalization— many of the speakers continue to advocate multilateralism and partnerships among different stakeholders, including the private sector, as the key to overcome these challenges. END
Philippine Secretary of Finance Benjamin E. Diokno in conversation with Hong Kong Chief Executive John Lee Ka-chiu. (Hong Kong PCG photo)
Philippine Secretary of Finance Benjamin E. Diokno in conversation with Hong Kong Financial Secretary Paul Chan Mo-po. (Hong Kong PCG photo)
Seated from Left: Hong Kong Secretary for Financial Services and the Treasury Christopher Hui, Philippine Secretary of Finance Dr. Benjamin E. Diokno, Bank of International Settlements (BIS) Chief Representative for Asia and the Pacific Dr. Tao Zhang and Asian Development Bank (ADB) Director General of the East Asia Department Teresa Kho. (Hong Kong PCG photo)
For more information, visit https://www.hongkongpcg.dfa.gov.ph, or https://www.facebook.com/PHLinHK/.