The Asset Events

The Asset 12th Philippine Forum

Reform and transform

October 2017 - Makati, Philippines
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It is day 475 into the term of President Rodrigo Duterte. As perhaps the most unorthodox leader ever elected to the highest office in the Philippines, Duterte has embarked on an economic agenda that is far more audacious than seen in the past decades.

Having secured a solid election victory, Duterte is using the mandate to empower his economic managers to leverage on the government’s fiscal headroom. At the centre of the economic agenda is infrastructure. As if to emphasize its commitment, the government has dubbed it as the “build, build, build” programme.

And it is going about it in a much different way. The strategy is to deploy government budgetary allocation together with Official Development Assistance to make up the bulk of the financing. This strategy departs from that of the previous government, which had opted for private-public partnership as the model of choice. The government has set aside 7.125 trillion pesos for its public investment programme from 2017 to 2022.

With the new strategy, the government’s infrastructure spending has jumped to 5.3% of GDP during 2016 from an average of 2.9% during the previous government. The ceiling on the budget deficit has been adjusted to enable a further increase in infrastructure spending to more than 7% by 2022.

Another plank of the government is the comprehensive tax reform programme that realigns taxation to reflect the current realities by giving wage earners a break. The overriding goal is to lower tax rates while at the same time broadening the tax base. They include the lowering of personal income tax rates and the reduction of value-added tax exemptions. Excise taxes will be adjusted for fuel and also for automobiles.

It is with this energized backdrop that The Asset is hosting the 12th Philippine Forum to showcase the country and identify the interesting opportunities and the challenges ahead. The theme for this year’s event is Reform and Transform, taking a closer look at how Duterte is defining new dimensions in development.

What to expect in this year’s event

  • How to accelerate initiatives on financial inclusion?
  • Empowering MSMEs through micro financing
  • Financing the golden age of infrastructure: “Who gets a seat at the table?”
  • Banking the future: Technology for transformation
  • Accelerated infrastructure spending: credit rating implications
  • Renewables as the new power play
  • Full steam ahead for capital raising?

Speakers / Agenda


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