Philippines Investor Relations Rated World's No.1 by International Body

Manila Philippines - Dec 12, 2005

The Philippines investor relations program was ranked as No. 1 among thirty other emerging countries surveyed and reviewed by the Washington-based Institute of International Finance (IIF).

The Philippines and Brazil topped the Institute of International Finance's list in a December 8 report "Investor Relations: An Approach to Effective Communication and Enhanced Transparency 2005 Assessment of Key Borrowing Countries".

The report assessed the borrowing countries' investor relations offices using 20 criteria, such as availability of data, timeliness and periodicity.

Results of the assessment indicate that the Philippines' data transparency practices are better than China, Korea, Thailand, Malaysia, Chile, Russia and Turkey.

According to Bangko Sentral ng Pilipinas Governor Amando M. Tetangco Jr., the Central Bank is fully committed to the timely release of data covered by the international data release standards, especially the Special Data Dissemination Standard or SDDS.

"Governments are not that different from publicly-traded companies," Tetangco said. "The government also has many stakeholders who require timely and accurate information about the fiscal and economic health of the Philippines."

He said that a professional, proactive investor relations program is critical to ensuring these stakeholders have the information they need to make critical business and investment decisions.

The Investor Relations Office (IRO) of the Central Bank of the Philippines was established in 2001 as a direct response to the government’s need to provide a coordinated approach to sourcing macroeconomic information from various economic agencies and make it easily available to analysts and investor. The IRO works actively with the government's Economic Team, financial institutions, credit ratings agencies and the business community.

"The IFF has recognized the commitment of the government to maintaining an open and proactive dialogue with domestic and international investors about the state of public finances and the Philippine economy," according to IRO Executive Director Rene Pizarro.

"Timely information has helped support the strong peso, increased investment and good cooperation with the international credit rating agencies."

Source: Manila Bulletin

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