Cuisia: Phl no longer dark horse in Asia

MANILA, Philippines - The Philippines is no longer a dark horse in Asia as the country is now making a competitive run. 

This was the message conveyed by Philippine Ambassador to Washington Jose Cuisia Jr. when he spoke before the Chicago Council on Global Affairs at the Chicago Sofitel Water Tower recently. 

Cuisia urged its members to consider investing in a country that is now considered a new economic tiger.

 â€œI hope I was able to convey to you this afternoon that the Philippines is no longer a dark horse: it is making a competitive run. Investors trying to avoid some of the risks in Asia are beginning to find out that the biggest risk is not being in the Philippines,” Cuisia said in his keynote speech before more than 120 members of the council, mostly representing the business community and the academe. 

The ambassador opened the seminar by highlighting the growing trade between the Philippines and the United States, Manila’s third largest trading partner.   

He said Chicago was included in the itinerary of the members of the 2nd Investment Roadshow headed by economist Dr. Bernardo Villegas because of the big growth potential of Philippine trade and investments. 

Carl Stern, vice chairman of the investment banking division at Goldman Sachs, who introduced Cuisia, set the tone for the forum by declaring that “the sense of progress is palpable in the Philippines.”

 According to Consul General Leo Herrera-Lim, Chicago and the rest of Illinois is home to the third highest concentration of Filipinos among in the US, as well as to a considerable number of Fortune 500 companies. 

Herrera-Lim quoted Executive Director Eric Breila as saying that it was the first time in many years that the council, which has been providing a forum for world leaders and policymakers to discuss global issues and international developments had invited a Filipino diplomat. 

Breila said it was also the first time that a meeting of the council, which is made up largely of members from business and the academe, was received with such enthusiasm by the Chicago community as evidenced by the positive turnout of more than 120 guests.