THE private sector is now investing heavily in areas outside Manila as part of its commitment to support the government’s goal of distributing growth across the country, BDO Capital & Investment Corp. President Eduardo Francisco said during The Manila Times 7th Business Forum.
“The private sector is investing heavily in the provinces and supporting businesses to grow all over the country,” Francisco said during the forum held at the Marco Polo Hotel Davao on Friday.
“Loan growth is so strong, if private sector did not believe in this government, we would not be expanding our business. So the fact that we are borrowing shows that we are really supporting the government. We believe in the Build Build Build,” he added.
For instance, Francisco said, the country’s biggest conglomerates were planning to build at least 20 to 25 malls in the next three years. This is a far cry from the five to 10 malls a year in the past administration.
“It’s great news that there’s a lot happening in the private sector,” he added.
With the theme, “Build, Consume, Grow: Gaining Momentum for an Emerging Economy To Soar,” the conference gathered business leaders and economic thinkers who will discuss their insights as well as prevailing trends and challenges in business and the general economy.
Other resource speakers are Francisco Dakila Jr., managing director for the monetary policy subsector, Bangko Sentral ng Pilipinas; Shiela Lobien, regional director of Jones Lang LaSalle Philippines; Birgit Hansl, lead economist and private sector leader of the World Bank; Ernesto Pernia, secretary of socioeconomic planning; and Yongzheng Yang, representative to the Philippines of the International Monetary Fund.
The Manila Times Business Forum, which started in 2014, is an annual assembly of The Times, its partners, advertisers, readers and subscribers. MAYVELIN U. CARABALLO