PH Ambassador to Australia Highlights Investment Opportunities in PH in CEO Roundtable with Macquarie
Ambassador De La Vega and Ms. Wikramanayake exchanged views on investment prospects in the region at the CEO Roundtable hosted by the Macquarie Group on 30 August 2024. (Canberra PE photo)
SYDNEY 13 September 2024 – Philippine Ambassador to Australia Ma. Hellen De La Vega underscored the viable and ideal environment of the Philippines for foreign investment in a CEO Roundtable hosted by Macquarie Group CEO Shemara Wikramanayake for the Australian New Zealand Chamber of Commerce and Industry (ANZCHAM) Philippines business delegation led by Benjamin Romualdez on 30 August 2024.
The roundtable was attended by Philippine and Australian government officials and business executives including Australia-Philippines Business Council President Rafael Toda, Deputy Director-General of the Philippines Economic Zone Authority Ms. Vivian Santos, IT and Business Process Association of the Philippines President Jack Madrid.
“We are one of the most dynamic economies in Southeast Asia, having had a full-year GDP growth rate of 5.6% in 2023, outpacing major East and Southeast Asian economies and the Philippine economy expanded by 5.7% in the first quarter of 2024”, stated Ambassador De La Vega.
The Ambassador encouraged private-sector investment in the country, particularly around infrastructure, energy transition and digital transformation, further noting that the Philippines has achieved two A- credit ratings by Japan Credit Rating Agency in 2020 and Rating and Investment Information, Inc. in 2023.
Ms. Wikramanayake highlighted the importance for Australia to learn more about the Philippines in order to pursue deeper engagement and opportunities in agriculture, building digital infrastructure, mining and renewable energy. She attributed the success of Macquarie in the Philippines to the employment of local teams which also generate employment.
Shemara Wikramanayake was named as the Australian Government’s Business Champion for the Philippines by Prime Minister Anthony Albanese at the ASEAN-Australia Summit in Melbourne in March 2024. Macquarie has been operating in the Philippines for more than 20 years as a leading infrastructure asset manager, a top-4 international broker, and principal investor and adviser in infrastructure and energy. It employs more than 1,000 staff in Manila to support its global operations across operations, finance, human resources, legal, technology and risk. END
Philippine Ambassador to Australia Ma. Hellen De La Vega (1st row, 9th from left), together with Chief Executive Officer of the Macquarie Group Shemara Wikramanayake (1st row, 8th from left), ANZCHAM Philippines President Benjamin Romualdez (1st row, 7th from left), Australia-Philippines Business Council President Rafael Toda (1st row, 6th from left), Deputy Director-General of the Philippines Economic Zone Authority Ms. Vivian Santos (1st row, 11th from left), IT and Business Process Association of the Philippines President Jack Madrid (1st row, 10th from left) at the CEO Roundtable held at the Macquarie Headquarters in Sydney. (Canberra PE photo)
For more information, visit https://www.philembassy.org.au or https://www.facebook.com/PHinAustralia/.