14/12/2018
CANADIAN BUSINESS LEADERS: INVEST IN PH
From October 5-11, 2018, private-sector sponsored roadshows to Vancouver and Toronto, Canada were held by a team composed of Philippine-based Canadian firms in Insurance, BPO-IT, and Finance, encouraging more Canadian companies to invest in the Philippines.
The said events, led by Dr. Bernardo M. Villegas of the University of Asia and the Pacific (UA&P) and Mr. Ray Canilao of Global Executive Solutions Group (GESG), provided a more balanced political and economic briefing for prospective investors on trade and investment by intentionally excluding public officials from the panel.
“The purpose of the team in visiting Canada is to provide a political and economic briefing on the situation in the Philippines for trade and investment, as the private sector sees it,” says Mr. Julian H. Payne, President and CEO, Canadian Chamber of Commerce of the Philippines (CanCham).
Mr. Canilao adds, "Our mission here is to convince Canadian companies to look into the Philippines. Telus, one of the biggest telco companies in Canada, started 15 years ago in the Philippines. They have employed 15,000 people and they plan to hire 3,000 more.”
Some of the basis cited for an optimistic economic forecast for the Philippines, based on data from World Bank and Asian Development Bank are:
1) More than US$30B annual remittances from Overseas Filipino Workers (OFWs);
2) A thriving BPO-IT sector earning US$25 Billion and employing 1.2 Million;
3) A strong local market of 105 Million on domestic tourism, with 60 Million travellers annually; and
4) The Build, Build, Build program with an annual 6-7% GDP on infrastructure spending.
Moreover, the Philippine economy is also seen to grow annually at 7-8% over the next ten years and has one of the lowest debt-to-GDP ratio in Asia.
A common reason cited by representatives of Canadian companies why they invest and operate in the Philippines is the country’s greatest asset --- its human resource. The secret: a highly educated and English-speaking workforce capable of providing world-class customer service.
Another rising sector that caught much attention is Agriculture. Given the Philippines’ tropical climate enabling year-round agricultural activities, Canadian companies have a keen interest in venturing into Philippine soil for their agricultural production.
The business roadshow was just the first in Canada, but was already held several times in the USA. The roadshow is an effective format in actively engaging influential opinion leaders in Canada and potential Canadian investors in the Philippines by providing valuable content presented by respected leaders in the industry.
Are you interested to know what transpired between presenters and attendees during the Canada Roadshow?
Follow our blog to read our next post about the bright economic prospects for the Philippines and Canada discussed during the Roadshow.
Global Executive Solutions Group (GESG) is a premiere executive search firm that provides highly qualified leaders to complement top management teams in the Philippines. Contact us today for customized solutions to your executive search problems!
Please visit our website (www.gesg.ph) and follow our LinkedIn account (www.linkedin.com/company-beta/901880/) for more updates!
