Aquino scores with Aussie businessmen

An impressive turn out marked the Australia-Philippines Business Forum, CEO Roundtable and dinner held in Sydney as part of President Aquino’s recent three-day visit to Australia.

Nearly 400 businessmen including Australia’s top CEOs, managing directors and other C-level executives attended the forum and over 300 attended the dinner. A CEO Roundtable and business matching sessions were highlights of the business program.

Australia Philippines Business Council (APBC) president, Eduard Alcordo, said “President Aquino’s visit to Australia was positively received by all and put the spotlight on serious reforms that have dramatically transformed doing business in the Philippines.”

“Corruption and lack of transparency were the major impediments to Australian direct investments but as one of our member CEOs noted, Australian investors can no longer ignore the Philippines now that they have been eliminated,” he added.

Alcordo confirmed that member companies of APBC are working on A$12 billion worth of foreign direct investments in Public Private Partnership ( PPP Projects) in mining, medical/ pharmaceutical, education, skilled manpower, tourism, real estate, business processing and agriculture. All these projects are in various stages of development.

“APBC strongly supports transparency and favours public tender as the means of awarding these projects”, he said. “APBC has offered its assistance so tenders are facilitated expeditiously and in a timely manner.”

The APBC is a private sector organisation whose primary aim is to promote mutual benefits between the business communities of both countries.

For over 35 years, the APBC continues to be Australia’s preeminent bilateral business organization promoting trade and investment between Australia and the Philippines.