The Bangko Sentral ng Pilipinas (BSP) in Lucena hosted the 1st Regional Economic and Financial Forum for the Policy Makers of Calabarzon held at the BSP Lucena City, Quezon on October 24. The event’s theme was “the Philippines: Resilience amid Global and Domestic Challenges.”

In his talk, Deputy Governor Diwa C. Guinigundo of the BSP said that the Philippines has sustained its high economic growth among Asian countries. He said that since 1999, the country has not experienced recession and that the manufacturing sector was the main growth driver. He also acknowledged the contribution of Calabarzon, as an industrial powerhouse to the growth of the economy. Moreover, he mentioned that outlook for the Philippines is favorable. He also reiterated the commitment of the BSP for a stable and more inclusive financial system.

Regional Director Luis G. Banua of the NEDA Regional Office (NRO) IV-A, on the other hand, shared the economic performance and the development prospects of the Calabarzon region. According to RD Banua, the Calabarzon will remain a significant contributor to the national economy, as it continues to lead in the manufacturing output. The region’s priorities include the following: (a) expand manufacturing; (b) promote increase in tourists arrivals; (c) improve inter-modal transport connectivity; (d) ease traffic congestion; (e) address poverty; (f) utilize technology and innovation to increase production and value chain; and (g) support micro, small, and medium enterprises.

Meanwhile, participants at the event gained knowledge on ways to avoid bank frauds and scams. Ms. Jennifer Villena of the BSP Financial Consumer Protection Department encouraged the participants to be vigilant while withdrawing cash from automated teller machines, online transactions, and suspicious investment schemes.

Deputy Director Tomas J. Carino, Jr. of the BSP in Lucena, on the other hand, thanked the organizers and participants. He assured the continuous support of the BSP for the next Regional Economic and Financial Forum. Meanwhile, Director Charito C. Armonia of the PSA IV-A expressed her gratitude for the support during the 27th National Statistics Month Celebration.

The forum was attended by members of the Regional Development Council and banking sector.

Alvin Caezar V. Olanday, NEDA Region IV-A | Friday, October 28, 2016