MANILA -- The partnership of Security Bank Corp. and Tokyo-based MUFG Bank, Ltd. successfully hosted a business networking affair for over 400 firms, which, stakeholders say can only strengthen existing ties between Filipino and Japanese enterprises.
On Wednesday, Security Bank and MUFG hosted the Business Matching Fair 2018 here. This was the second time for the two banks to hold the business-to-business (B2B) meetings. The first one took place in February 2017.
Security Bank President and Chief Executive Officer Alfonso Salcedo Jr. said in a media briefing that 224 companies took part in the second Business Matching Fair, higher than the 200 companies that participated in the same business networking event last year.
Salcedo added that most of the businesses that joined this year's B2B encounters did not participate last year’s Business Matching Fair.
There are 43 Japanese firms that joined the B2B meetings, as well as MUFG’s clients in Vietnam and Thailand, which are eyeing for business opportunities in the Philippines.
“From last year’s business matching, some deals have actually happened already,” said Salcedo.
“This partnership and collaboration with Japan and the Philippines is very opportune. On the Philippines side, I think our economy continues to hum, the first quarter was 6.8 percent GDP (gross domestic product) growth and there is a good chance that we might reach 7 percent for the second quarter,” he added.
The executive noted that their Japanese partners continue to express interest to do business in the Philippines due to the country’s economic growth, workforce, large market, and being a consumption-driven economy.
“The consumption and the growth of our economy, I won’t say assured but it looks good at least over the next couple of decades given by demographics of the country,” he said.
“Other than helping our clients to grow their businesses, we hope in our small little way, Security Bank will be able to contribute in attracting foreign direct investments into the country, which is very much needed right now,” added Salcedo.
Salcedo mentioned that these B2B meetings will help local enterprises gain access to the global market through partnering with Japanese companies and other foreign clients of MUFG.
It was also noted that most of the local companies that participated in the business networking fair are based in the Visayas and Mindanao.
“We are providing a streamlined avenue for both Philippines and Japanese clients to meet and probably seal a deal, furthering their business relations and even strengthening our country’s export,” said Salcedo. (PNA)
