American Express official notes vibrance of Phl market

MANILA, Philippines - The Philippines’ growth rate in the past years, its fairly large population, and a growing middle class are some of the factors that make it an attractive business destination, according to Kula Kulendra, executive vice-president and regional head of the Global Network Services, Japan, Asia-Pacific, and Australia of American Express International, Inc. 

American Express was the 2011 title sponsor of the Asia CEO Awards which recently conferred a number of awards to top CEOs and corporations doing business in the country. The awards, supported by a number of the Philippines’ leading corporations, seek to promote the country as a viable business capital.

Kulendra, who oversees the business in Asia Pacific, Japan and Australia of the world’s largest card issuer by purchase volume, was the keynote speaker at the ceremony held at the Marriott Hotel Manila. Over 50 of the top corporations in the country were represented at the ceremony which named Magsaysay Maritime as winner of the executive leadership team of the year, Hitachi Global Storage Technologies as the top employer organization, and Marife Zamora of Convergys Philippines as the Global Filipino executive of the year among other awardees.

In the Philippines, American Express has partnered with BDO to provide a range of card products with corporate payment solutions. The partnership has resulted in a robust growth of 25 percent to 30 percent a year or “faster than the market,” noted Kulendra. “The Philippines has the essential ingredients for sustained and dramatic growth,” he assessed.

He noted that in addition to its young demographics, the country’s large overseas worker population contributes to its economic vitality. “The Philippines exports talents that will someday return to the country and contribute to its progress.” He added that the Filipinos affinity with the mobile phone has made it particularly attractive to his company. “We have a whole suite of products to offer Filipinos” including mobile payments solutions.

He related that its positive experience with globaleshop.com, a service to American Express cardmembers that allows them to shop online using their card and lower delivery costs, has prodded his firm to explore offering other similar products given the Filipinos penchant for doing business in the mobile and online space. Leveraging on BDO’s capabilities and resources, “we are looking at introducing a virtual card that will allow even easier and more convenient access to e-commerce sites around the world.”

The company’s participation in the Asia CEO awards demonstrated its commitment towards the development of the corporate sector in the country. Other Asia CEO Awards winners were Netsuite Philippines, which was named Technology Team of the Year; Ayala Land, finance team of the year; i-Remit, Most Innovative Company; Shangri-La Hotels, Quality Excellence Company; RCBC, Most Admired Board of Directors; SPI Global’s Maulik Parekh, Expatraite Executive of the Year.