WASHINGTON, D.C. – The Philippine Embassy hosted a briefing and reception for the Wharton Club of DC at the Philippine Chancery Annex building on 23 January 2019.
Led by their President Alan N. Schlaifer, around 50 club members coming from diverse backgrounds and affiliations, including the US government, private sector, financial institutions, and multinational and marketing companies, attended the event.
Philippine Ambassador to the United States Jose Manuel G. Romualdez met with the members prior to delivering a comprehensive presentation on the Philippines highlighting its strong economic performance, foreign policy, as well as Philippines-United States alliance, people-to-people ties, and trade relations.
“I can describe the current state of our relationship in seven words: stable and moving in the right direction,” Ambassador Romualdez said.
“The friendship between our two nations could only be reinvigorated and made stronger with the recent return of the Balangiga bells to the Philippines. Their homecoming represents hope, resilience, and respect. Because of the significance of their journey home, the bells provide both the Philippines and the US yet another opportunity to deepen their long-standing ties based on shared values, goals, and most importantly respect,” the Ambassador added.
Ambassador Romualdez also highlighted the country’s strong economic performance as evidenced by its strong and consistent GDP growth rates in the past year, as well as the current administration’s Comprehensive Tax Reform Program and Build BuildBuild infrastructure development policy.
“With growth rates of 7-10 % projected for the next decade and an HSBC Global Research Report predicting the country to be the 16thlargest economy in the world by 2050, the Philippines is an attractive investment destination,” he remarked.
At the Q&A session, Ambassador Romualdez addressed several questions pertaining to the status and prospects of small- and medium-sized businesses in the country, current infrastructure projects, Filipino remittances, current US immigration policies, local technological advancements, and Philippine relations with China.
The Philippine Embassy served wine and Filipino hors d’oeuvres during the reception. The annual VIP Tour 2019 was also promoted during the event.
The Wharton Club of DC is one of the largest and most active business school clubs in the United States. Members of the Wharton Club occupy leading positions in business, finance, government, associations, and non-profit organizations. ###