Phl lauded once more for economic achievement

MANILA, Philippines - Much excitement has been generated by the recent declaration of the Fitch Group that the Philippines is now “investment grade.” On the surface, those words look impressive, but what do they really mean, and how can the Philippines capitalize on this development for the future?

‘Investment grade’ and ‘Asian tigers’

Ratings given by the Fitch Group are not to be taken lightly because it is one of only three Nationally Recognized Statistical Ratings Organizations (NRSRO) that have been designated by the Securities and Exchange Commission of the United States. As such, recognition by the Fitch Group is an affirmation of the Philippines as a financially-sound nation that has the capacity to pay its debts.

This comes on the heels of the World Bank’s earlier acknowledgement of the Philippines as “the next Asian tiger economy,” further fueling the optimism surrounding the country’s economic standing.

For veteran marketing practitioner Ned Roberto, the clearest sign of the Philippines’ rise in economic status globally was the Doha Forum held in Qatar mid-2012. “We were the talk of that forum,” Roberto recalls. “Our businessmen delegates were given a special session for investors because we had the highest growth rate in our region. That’s the first time it happened.”

Recognizing these recent citations by both organizations and our peers, the Philippine Marketing Association wants to prepare Filipino marketers for the challenges the economic upswing may provide.

Will you eat or be eaten?

This year, the PMA’s National Marketing Conference will be held on June 27 and 28, 2013 at the Marriott Hotel Manila with a theme of “Roar of the Tiger: Will your Brand Roar in the Rising Asian Economy?” Talks and case studies to be discussed will cover a wide range of topics, with a slant toward the aforementioned status of the Philippines as the next Asian tiger, and the significance of the post of Chief Marketing Officer in making it happen for individual corporations.

With a keen eye toward truly securing the Philippines’ tiger economy status, the National Marketing Conference will be headlined by top marketers, executives, and people-in-the-know. Securing the investment grade rating from the Fitch Group is no small feat, and it has taken a lot of effort for the country to receive the accolades it has recently been given. As such, the PMA would like nothing less but to capitalize on these gains and use them as building blocks for the Philippines’ continued economic ascent.