The Asset Events + webinar series
16th Philippine Summit: Reviving paths to recovery
12 & 19 October 2021 | 4:30 - 6:00 PM HKT
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Before Covid-19, the Philippines was one of the world’s fastest-growing economies, posting an average annual expansion rate of 6%. But with the unprecedented challenges brought on by the pandemic, including the imposition of long and strict lockdowns that crippled economic activity, the country witnessed its worst recession yet, with the GDP contracting by 8.3% in the fourth quarter of 2020 and by 9.5% for the full year.

As millions lost their jobs, private consumption collapsed. Disruptions in domestic and global supply chains, as well as international travel restrictions, aggravated the situation. Exports dropped 10.1% while imports plunged 23.3%.

The year 2021 brought fresh hopes of recovery. In anticipation of the vaccine rollouts, the Philippines forecast a strong rebound, with the GDP expected to expand by 6.5% to 7.5% this year. But in its latest report, the Asian Development Bank slashed its 2021 growth forecast for the country to 4.5% as the Southeast Asian nation continued to grapple with the health crisis. The recent surge in infections, particularly of the more contagious Covid-19 variants, had resulted in the reimposition of strict quarantine measures in Metro Manila and neighbouring provinces.

Amid the economic dislocations, and despite falling fiscal revenues, the government has been expanding its relief efforts. The Bangko Sentral ng Pilipinas, the country’s central bank, has vowed to maintain its accommodative policy stance while infusing US$41.6 billion of liquidity into the financial system – equivalent to 10% of the country’s GDP. The government has also accelerated the implementation of recovery programmes such as Bayanihan 2, Corporate Recovery and Tax Incentives for Enterprises (CREATE) and Financial Institutions Strategic Transfer (FIST). In the meantime, remittances from Filipinos working abroad continue to support consumer spending and remain an important stabilizer of the economy.

The Asset Events+ is pleased to be hosting the 16th Philippine Summit. The virtual event brings together experts who will discuss and exchange views on the challenges, trends, and opportunities in the Philippines.

Panel Keynote address by Benjamin Diokno, governor of the Bangko Sentral ng Pilipinas (BSP)
Panel Panel discussion
Panel Keynote address by Carlos Dominguez III, secretary of finance, Republic of the Philippines
Panel Panel discussion
 
Session I: In transition to a new economy
12 October 2021 | 4:30 – 6:00 PM HKT
4:15 PM (HKT)
Access to webinar opens
4:30 PM (HKT)
Opening remarks
Daniel Yu
Daniel Yu
editor-in-chief
The Asset
4:40 PM (HKT)
Keynote address (followed by Q&A)
Benjamin E. Diokno
Benjamin Diokno
governor
Bangko Sentral ng Pilipinas
5:00 PM (HKT)
Exclusive Discussion
Covid-19 pandemic has been a catalyst in the country’s digital transformation. Restricted movements paved a way for more people to access digital payment channels and for retail investors to explore digital investment opportunities. The BSP established a Digital Payments Transformation Roadmap (2020-2023) to achieve an efficient, safe and inclusive payment ecosystem. Digital governance standards were also put in place to maintain public trust in the payment system. Meanwhile, the entry of digital players in the banking sector is expected to further expand digital financial services. The government also launched a national ID programme, which aims to accelerate social protection, financial inclusion and national vaccination.
  • What is the role of digitalization and business innovation in promoting financial inclusion and accelerating the country’s recovery from the pandemic?
  • What are the opportunities presented by the pandemic to accelerate the digital transformation of the financial sector?
  • How secure is the country’s digital infrastructure from cyber security risks?
Chuchi Fonacier
Chuchi Fonacier
deputy governor, financial supervision sector
Bangko Sentral ng Pilipinas
Alessio Quaglini
Alessio Quaglini
chief executive officer
Hex Trust
Paolo Azzola
Paolo Azzola
chief strategy officer
PayMaya
Roel Arco Refran
Roel Arco Refran
COO
Philippine Stock Exchange
Henry Aguda
Henry Aguda
CTOO and CTO
Union Bank of the Philippines
Darryl Yu
Darryl Yu (moderator)
chief digital editor
The Asset
5:50 PM (HKT)
Q&A
6:00 PM (HKT)
End of discussion

Session II: Recover, rebuild, revitalize
19 October 2021 | 4:30 – 6:00 PM HKT
4:15 PM (HKT)
Access to webinar opens
4:30 PM (HKT)
Opening remarks
Daniel Yu
Daniel Yu
editor-in-chief
The Asset
4:40 PM (HKT)
Keynote address (followed by Q&A)
Carlos Dominguez III
Carlos Dominguez III
secretary of finance
Republic of the Philippines
5:00 PM (HKT)
Exclusive Discussion
The economic growth returned to positive territory in the second quarter despite the imposition of strict quarantine measures in April and May 2021. Yet again, the risks associated with the Delta variant of the virus placed Metro Manila and other parts of the country back in hard lockdown, forcing many industries to suspend or totally halt operations. But with the country receiving a steady supply of vaccines, hopes are high that herd immunity will eventually be achieved and prospects for a strong economic recovery remains bright. The bond market is robust amid the heightened financing needs of corporates and the government. The equity market is also looking forward to a vibrant year after struggling with just seven initial public offerings over the last three years. Seven companies plan to go public this year or issue real estate investment trusts. Green and social finance is gaining ground in the Philippines, which is joining other countries in the region in integrating sustainability objectives into their post-pandemic recovery strategies.
  • What are the long-term impacts of the pandemic on the economy?
  • Which sectors offer the biggest opportunities as the economy rebounds?
  • How can capital markets accelerate economic recovery?
  • What are the challenges corporates are facing in tapping the debt and equity capital markets?
Eduardo Francisco
Eduardo Francisco
president
BDO Capital & Investment Corporation
Jean-Louis Nakamura
Jean-Louis Nakamura
chief executive officer, Hong Kong and chief investment officer, Asia
Lombard Odier Group
Jesse Teo
Jesse Teo
chief financial officer
Monde Nissin Corporation
Benedicto Yujuico
Benedicto Yujuico
president
Philippine Chamber of Commerce and Industry
Ephyro Luis Amatong
Ephyro Luis Amatong
commissioner
Securities and Exchange Commission
Daniel Yu
Daniel Yu (moderator)
editor-in-chief
The Asset
5:50 PM (HKT)
Q&A
6:00 PM (HKT)
End of discussion
 
POST EVENT HIGHLIGHTS
The Asset Talk
The Asset Talk
What is the likely timeline for the withdrawal of regulatory forbearance in the Philippines?
The Asset Talk
How has the Philippine Stock Exchange been improving it’s systems to cater to issuers and investors?
The Asset Talk
Status of financial inclusion in the Philippines
The Asset Talk
What is the biggest challenge for financial digital adoption in the Philippines?
The Asset Talk
Importance of identification in offering financial services in the Philippines
The Asset Talk
Digital asset adoption in the Philippines

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