Business meetings proceed in Russia

MOSCOW – It’s business as usual for over 200 members of the Philippine business delegation to Russia even as President Duterte cut short his official visit here after declaring martial law in Mindanao because of the situation in Marawi City.

While expressing concern over the repercussions of the security situation in Mindanao especially those with investments in the region, the business delegates agreed to continue with their meetings here.

In an advisory sent to the business delegates Tuesday night (Moscow time), the Department of Trade and Industry (DTI) said the business meetings would proceed as planned.

“Department of Trade and Industry Secretary Ramon Lopez will stay in Russia to pursue business activities together with the Filipino business delegation,” the DTI said.

At 5 p.m. yesterday (Moscow time), President Duterte declared martial law in Mindanao amid fighting between government troops and the Maute group terrorist in Marawi City.

The President cut short his supposedly five-day visit and left at 11 p.m. yesterday, according to the advisory.

“Along with the DTI, Department of Foreign Affairs Secretary Alan Peter Cayetano will also stay in Moscow to attend to other official activities relating to this visit,” the DTI said.

Members of the Philippine business delegation started arriving as early as the weekend and have already set several side meetings on top of the business events organized by the DTI.

Among those in the official list of business delegates released by the DTI are Bernard Dy, president and chief executive officer of Ayala Land Inc; Fernando Martinez, chairman and CEO of Eastern Petroleum Group of Companies; Jose Concepcion III, president and CEO of RFM Corp. and presidential adviser for entrepreneurship; Roberto de Venecia, chairman of the Philippines-Russia Business Council; George Barcelon, president of the Philippine Chamber of Commerce and Industry; Jorge Consunji of DMCI Group; Manuel Villar, chairman of the Villar Group; Michael Toledo, spokesperson of the MVP Group; Felipino Palafox of Palafox Associates and Michael Tan, president of LT Group Inc.

Some of them decided to stay because activities are proceeding as planned.

“DTI announced that business activities will push through,” Ayala Land’s Dy told The STAR.

Martinez of the Eastern Petroleum Group likewise said there’s no reason to cut the business trip short.

“Yes, we are staying because there are meetings that have already been arranged,” Martinez said.

The DTI said it would issue an updated list of activities for the business delegates – on top of their respective side meetings.

Lopez, who takes over the official delegation with Duterte back in the Philippines, is expected to highlight the socalled Dutertenomics in two business events to present the government’s plans and also help Russian companies know more about the Philippines.

With this, Lopez said the Duterte administration hopes to pave the way for both Philippine and Russian companies involved in infrastructure or related sectors to establish linkages.

Dutertenomics, which the government’s economic team launched last month, is an P8 trillion plan focused on improving infrastructure in the country.

With the slogan of “Build, Build, Build,” the Duterte administration vowed to usher in the so-called olden age of infrastructure in the country by boosting state spending on big-ticket projects to seven percent of gross domestic product from five percent at present.

The two events that would tackle Dutertenomics include a Philippines-Russia business forum here on Thursday and another one in St. Petersburg on Friday.