Boom or Bust?

Is the Philippines going back to a cycle of boom and bust?

Over the last few weeks, I have been getting so many messages of wild speculation.

One, that the President is sick, or that martial law will be declared. The list goes on and on to include other unfounded assumptions and fears. It’s easy to ride on the panic and say – “start buying dollars, start unloading your properties, sell all your stocks and bonds!” But in the end, doing so may be a grave mistake.

With the concerns of inflation and the panic surrounding it, I always remind the people to see the bigger picture. Look at the long-term goal.

Like any other competitive country, the Philippines is not expected to follow a straight path to success or growth. There will be delays and bumps – and, at times, even big bumps

Martial law babies and the generations before us can attest, no matter the bumps, these can be overcome – like the Asian Financial Crisis of 1997, and the financial contagion spawned by the Lehman collapse in 2007-2008, which led America to experience its worst depressive period in modern times. The stock prices in the Dow index at that time fell to an appalling 3000.

Ten years after that, during the US subprime crisis, the American stock market dropped to about 26,000, or 10 times from the low. And likewise, even our own Philippine stock market saw a huge turnaround from below 2000 level some years ago to the present 7000 level.

So what can we learn from these events, from history? There is hope. Though we may be experiencing a low now, we can – through good governance and leadership – navigate through current challenges and come out stronger and more robust.

First of all, to understand what it is happening to the Philippines, we have to first delve into the government’s agenda.

Our government has a vision of a faster economic growth through intensified infrastructure spending. No one would argue that our country needs more infrastructure, since it is the key driver of economic prosperity. Even China envisions more economic growth by interconnecting itself to Europe and Asia through its massive Belt and Road infrastructure initiative.

Speaker Gloria Macapagal-Arroyo, during her time as president, also invested in connectivity through her RORO project, while the Aquino government did a great job in managing our country’s financial health, allowing us to obtain a historic investment grade rating. (But it’s important to note that its own infrastructure spending program at that time was bogged down for one reason or another.)

My point here is that to be able to push forward the Build Build Build program as an engine of growth, the country needs to roll out infrastructure projects immediately. Like a corporation, the Philippines needs to invest first, before it can reap revenue. Consider the Philippines as a company – call it Phil Inc. – with the citizens as the shareholders and the Cabinet, legislators and other offices as the management team, with President Duterte leading as CEO.

This massive capital expenditure for Phil Inc. is important for us to attain our continued growth, and it’s imperative that we build the infrastructure – airports, roads, bridges, ports, and railways – immediately to serve as the conduit for economic success. We can see the great implications of this already in tourism as it can help us provide better services and products, helping small-time entrepreneurs along the way. Roads will allow the easier delivery of products from farms to markets, which will also lead to a greater development in agriculture. Also, provinces have the chance to develop into large cities.

Every country in the world has adopted this same pathway. Through a more comprehensive infrastructure plan, you create a more inclusive economy. But in order to do that, you have to spend and invest, which on a national scale means relying on taxes.

So yes, taxes have caused inflation. We will shoulder excise tax on fuel and petroleum products, sugar tax on sweetened products, and tax on cars, among others, but  looking at the bigger picture, this is our contribution to this big investment.

The Sugar Regulatory Administration (SRA) should have pushed for the importation of sugar, as the soft drink companies using fructose (which has higher taxes) have been forced to switch back to cane sugar, further causing this sugar shortage. This in effect has raised the production prices of almost every product out there – from 3-in-1 coffee to juices, bread, etc. Rice, for one, is at its high. Managing the right balance of imported and local supply is important so as to have the right effect on the price and produce of our farmers.

To slow down inflation, the Central Bank will also have to be more aggressive in increasing interest rates. It’s important to remember that inflation is caused not just by one factor; some of the causes of inflation today are due to external, cost-push drivers like oil prices and other commodities, which may reverse trends and hopefully tame inflation next year.

In my opinion, speaking from the point of a CEO, today’s inflation and peso depreciation are to be expected. But that doesn’t mean we must throw ourselves into panic. This happens even in the private sector and among entrepreneurs. As we expand, we make adjustments, but the vision does not change.

President Duterte has had a good streak of respectable economic growth rates over the past two years, but there is still a long way to expand the economy. The Build Build Build program is a great first step in enticing more development in the countryside through tourism and manufacturing. But the cost of this capital expenditure runs in the trillions of peso.

In a corporation, the financing of such expenditure will come from several sources – the shareholder contribution, equity in from of taxes, coupled with debt financing though government borrowing. As in private companies, there is a healthy balance between equity and debt and the CEOs and managements are always mindful of striking a healthy balance. Our government normally watches its debt to GDP ratio so that the loans of the country do not heavily weigh on the revenues of the country. Over-leverage and weak earning capacity are a volatile combination.

Good thing is that even as the government plans to borrow more to finance the infrastructure investments, the gross international reserves of the country (this is analogous to the external cash buffer of the country to be used for paying foreign loans and financing imports), is at $77.7B, as of end June 2018. This level of international reserves can finance up to 7.5 months of imports of goods and services, or six times the country’s short-term debts. During the financial crises of the 1990s, our reserves could only finance three months’ worth of imports, which is to say that our government’s cash buffer is twice as strong now compared to the crisis years of the 1990s.

Then again, even as the government has room to borrow, it is unable to borrow to finance all the needed projects today. And this is where private money – through the PPP can be used to supplement government borrowing to fast track needed infrastructure projects. Of course, doing PPP also is like a form of tax, because an airport that is built through PPP (and not through the use of tax money or government loan) will eventually have to charge airport users so that the PPP investors can recover their capital with reasonable return. Under the PPP, the shareholders of Phil Inc. may not be required to pay upfront in the form of taxes, but they (or the airport or toll road users) will pay eventually under the pay-as-you-use scheme of PPP.

I believe the Philippines is blessed to achieve continuous growth, and we must remain supportive. I continue to remain bullish as our very own company, RFM Corp., celebrates its 60th year on October. My grandfather Salvador Araneta loved the Philippines and was in the early days of the government. My father JoeCon, who is turning 87, has always had the “Yes, the Filipino can” attitude. Today, I find myself helping thousands of micro and small entrepreneurs and guiding them towards success.

With all that’s happening today, let us not forget the bigger picture. Let’s remain bullish about our own country. Failure is not an option for the sake of our Filipino people.

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Top container operator is a Go Negosyo Big Brother

Ricky Razon at the infrastructure forum Build Build Build during the ASEAN Business and Investment Summit held last November 2018. The forum was moderated by Maria Ressa.

International Container Terminal Services (ICTSI) is the undisputed top container operation in the country, with port projects and terminal concessions located in different regions across the globe. It maintains its position as a powerful economic player, further expanding its reach and influence to other parts of the world.

ICTSI has been a Big Brother of Go Negosyo for the past two years now, ever since we hosted ASEAN’s 50th anniversary. Ricky Razon, ICTSI’s chairman and president, has been an ally in promoting inclusive growth and prosperity for all.  Last year, he even joined our infrastructure forum entitled “Build, Build, Build” during the ASEAN Business and Investment Summit, together with Jaime Augusto Zobel de Ayala of the Ayala Corporation, Tony Fernandes  of AirAsia and other panelists.

Ricky Razon joined the discussion on infrastructure together with Jaime Augusto Zobel de Ayala, CEO of Ayala Corporation and Shinya Ejima, Senior Vice- President of Japan International Cooperation Agency.

ICTSI goes beyond adopting a more inclusive business model that enables them to ensure that as the organization grows, the people grow along with them — allowing them to be part of the success and progress of the company. Since 1987, it has managed and operated container ports and terminals worldwide, which has enabled more active trade and commerce globally.

I commend corporations like ICTSI that have shown that an inclusive business model is not only possible, but has proven how it is, indeed, the better approach to achieve sustainable business. The efforts of our Big Brother advocate the same inclusive economic principle that I have always adhered to.

I’ve always believed that helping our fellow Filipinos should go beyond mere charity. As a nation, we must strive to build institutions that promote and ensure inclusive growth, where all stakeholders — from the executive levels to the rank-and-file employees, from suppliers to partners — can benefit.

Together, we must push for inclusive growth as this is the means to ensure prosperity for all.

Manila International Container Terminal (MICT), ICTSI’s flagship operations at the Port of Manila.

 

ICTSI’s Makar Wharf in General Santos City.

 

ICTSI’s New Container Terminal-2 in Subic, Zambales

 

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A close encounter with PM Mahathir

ASEAN Business Advisory Council Philippines chairman Joey Concepcion with Malaysian Prime Minister Tun Dr. Mahathir Mohamad.

It is not every day that you get to listen to wisdom and insights from an ASEAN leader like Malaysia’s Prime Minister Tun Dr. Mahathir Mohamad. At his age of 93, he is still as sharp as he was when he was first sworn in as prime minister in 1981.

We are so honored to have been invited by ASEAN Business Advisory Council (ASEAN BAC) Malaysia chairman Tan Sri Dr. Mohd Munir Abdul Majid to be part of the engagement with PM Mahathir which lasted for more than three hours.

The discussion revolved around trade and commerce across all ASEAN states and other related countries. It began with a discussion on the trade war between USA and China and the tariffs implemented, which then leads to protectionism. This topic urged me to ask how can we make the right approach to China and harness good relationship for trade. I mean accidents and issues can happen which can easily start a war. This should be a concern of all ASEAN countries as we are extremely close to China.

Whatever it is that we are doing to help our micro and small entrepreneurs and the entrepreneurial climate that we are building will be disrupted. Even the technologies for the digital economy will also be on hold.  That is why it should be taken seriously and we probably should have a dialogue with the Chinese leadership. PM Mahathir said that war is not an option and we need to build our relationship with China through trade and investments. We can improve this relationship through communication and strengthen the connection across ASEAN countries.

Lastly, all the proposals and agreements will not become a reality if there is no investment in education and training. This is where the mentorship for MSMEs come into play. We need to equip our citizens with the right mindset and technical know-how so they will be ready to take on the next challenge of scaling up. With the right money and market infrastructure, but without the knowledge and skills, citizens will find it hard to grow in their respective spheres.

It has been evident that we are entering Industry 4.0 wherein technologies and digital solutions, infrastructure, and systems are being developed to provide effective and efficient processes in all industries. We all agreed that the digital economy would drive productivity and growth and further harness a greater connectivity and economic integration in ASEAN. Just like what we are pushing for here in the Philippines, wherein our goal is to digitalize all our sari-sari stores through different technologies such as online and cashless payment schemes. We are also linking our MSMEs to bigger markets through digital commerce platforms.

We also agreed that the “national interests of individual ASEAN member states should always prevail in a way that the regional grouping was structured, but it was cleared that individual national interests in Southeast Asia should be pooled to achieve meaningful market size for economies to scale and ensure an oasis of rules-based economic order.”

Additionally, it was agreed that ASEAN countries must commit to free trade and open economies. This would enable each country to grow from their current status and foster more trade relationships with other countries.

It was also raised that commitments made with ASEAN countries are not always fulfilled due to barriers to trade, investments, and skilled labor movement. And since our region is considered as an economic powerhouse, we should maximize our markets in order to reach the projection that ASEAN will be fourth largest economy in the world by 2050.

The ASEAN Business Advisory Council members together with Malaysian Prime Minister Tun Dr. Mahathir Mohamad.

Policies should also support these developments. We are lucky here in the Philippines that we have a lot of partners and advocates in the government and private sector who continue to create regulations and policies that would enable every Filipino to achieve prosperity for all.

In closing, I must say that Prime Minister Mahathir is a leader to look up to. He is still very strong, has a great memory and directly answers the questions that were asked. He is the last remaining leader of their era in ASEAN. And we hope that he will still continue to become the great leader that he is today. Everyone in the ASEAN BAC thanks him for the special opportunity to hear his inspiring words of leadership.

When we asked him what is the secret to a good and healthy long life, he shared that his mom always said “when the food starts to get delicious, start to slow down and stop.”

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ASEAN Business Advisory Council Philippines, together with Go Negosyo, proudly present the 2nd ASEAN Agriculture Summit 2018 on Oct. 1, at the SMX Convention Center Manila. From the success of last year’s ASEAN Agriculture Summit, we are once again highlighting the importance and the great potential of the agriculture sector through our international and local speakers.


To know more about the summit, visit www.aseanagrisummit.com.

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International and local mentorship

AMEN was officially launched in Singapore last August 27, 2018 during the ASEAN Responsible Business Forum.

It has been an eventful week as we have brought mentorship not only here in our country, but also to the international field. Mentorship is an asset to growth and acceleration of a country’s economy and the advancement of its MSMEs’ budding industry.

After launching in Manila (November 2017), Australia (March 2018), South Korea (June 2018) and Malaysia (July 2018), ASEAN BAC recently launched the ASEAN Mentorship for Entrepreneurs Network (AMEN) in Singapore in partnership with ASEAN CSR Network, ASEAN-BAC’s Sector Champion for Responsible and Inclusive Business.

I was joined by ASEAN BAC 2018 chair Robert Yap, together with ASEAN CSR Network CEO Thomas Thomas and ASEAN CSR Network chair Yanti Triwadiantini.

The partnership aims to jointly develop and undertake programs, projects, and advocacy initiatives pursuant to the development and operationalization of Responsible and Inclusive Business and AMEN in ASEAN and ASEAN Dialogue Partners.

While mentorship takes off internationally, we take a look on how its essence is felt by our aspiring entrepreneurs in our latest leg of Mentor Me on Wheels at The Block Atrium, Quezon City. I will share with you the stories of our budding business owners and how we guided them in their endeavors.

I was joined by the pool of experienced mentors including Fe Agudo (Hyundai Asia Resources Inc.), Henry Lim Bon Liong (SL Agritech Corp.), Natividad Cheng (Multiflex RNC Philippines Inc.), Chiqui Escareal-Go and Josiah Go (Mansmith and Fielders Inc.), Dr. Vivian Sarabia (Sarabia Optical), Marife Zamora (Convergys Philippines), William Belo (Wilcon Depot), Feliciano Torres (Yazaki-Torres Manufacturing Inc.), Rey Lapid (R. Lapid’s Chicharon and Barbecue), Richard Sanz (Philippine Franchise Association), Alice Eduardo (Sta. Elena Construction and Development Corp.), Myla Villanueva (Novare Technologies), Myrna Yao (Richprime Global Inc.), Rick Santos (Santos Knight Frank), Gerardo Borromeo (PTC Holdings), Felix Ang (Auto Nation Group Inc.), Jerome Ong (CDO Foodsphere Inc.), and over 150 entrep-mentors in sharing our business expertise. Quezon City Vice Mayor Joy Belmonte also graced our event and joined our mentoring session.

One of the mentees I interacted with was Alexandra Esponga, who owns a business called Jess and Pat’s, a live music place in Maginhawa, Quezon City. She is a testament to the growing number of young people who venture into business and brave the challenges brought by the nature of their fields. Alex is eyeing to set up Crazy Cone, a new business that offers churros. I advised her to take the risk and just do it because if she’s not going to do it, she’ll never know the outcome of her decision.

Go Negosyo had the Mentor Me On Wheels in Quezon City last August 24, 2018. In photo (L-R) Feliciano Torres, Joey Concepcion, Alice Eduardo, Quezon City Vice Mayor Joy Belmonte, Fe Agudo and Henry Lim Bon Liong.

Luckily, she was also mentored by Vice Mayor Joy Belmonte and Richard Sanz of Philippine Franchise Association. I believe that through their mentoring session, Alex gained more knowledge and skills about marketing and product pricing. I am certain she got helpful ideas to expand her enterprise since it would be her first business that has the potential to be available for franchising.

Armilou Ann Lazaro, another mentee, sought advice on how to start her own business. I learned that she also wants to venture into churros making. I told her to go ahead and recommended some ideas in making the said pastry. I also suggested to start small until she reaches her target.

I also mentored Sandra Gutierrez, an entrepreneurial management student whom I believe is competent and open for creative suggestions that could help prosper her startup business. She mentioned the struggles of putting up a business and the lack of knowledge in proper marketing strategies. I recommended a modification of her brand name, focus on one product, and improve her packaging details.

Andrew Silvestre, an aspiring entrepreneur from Baler was fortunate to be mentored by Myla Villanueva on how to expand his network and take risks in business. I know that they both gained insights from each other. At his early age, Andrew was exposed to farmers and cooperatives in Baler, Aurora giving him the idea to start his own enterprise. Luckily, as Tessie Sy-Coson of SM was passing by after her mentorship, Myla introduced Andrew to her and presented his product, Cocoa Meric, a fusion of turmeric and cocoa tea. Tessie offered him to a space in Kultura, SM’s shop which features Filipino artistry and craftsmanship. I know that with his passion and innovative skills, he will be able to succeed in his future feats.

I hope all these ideas I shared will serve to boost everyone’s budding business and I wish nothing but success to their endeavors.

The Cabinet Spouses Association led by Madame Honeylet Avanceña during their visit to a child-minding center.

Last week, the Cabinet Spouses Association led by Honeylet Avancena visited a new child-minding center in Davao City. My wife, Marissa, also joined the activity wherein they gave away books, toys, and other goods to the children. The child-minding centers, where parents can leave their children while they are at work, have been existing in Davao for many years. Honeylet encourages other local government units to develop their own child-minding centers to help parents care for their children. I am sure that many entrepreneurs will benefit as they can assure that their children will be taken care of while they run their businesses.

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Filipino creativity and innovation

PA Joey Concepcion surprised Tatah Dela Calzada during her shop opening in Katipunan last August 18, 2018. DTI Asec. Bles Lantayona also graced the opening.

I personally believe that Filipinos are naturally creative and innovative. A lot of people can attest that Filipinos are talented in every kind of industry. This can be seen through the rise of many potential businesses in the country.

Remember how President Duterte supported the talent of our local artists and gave them a chance to be credited in their own fields.

During my speech at the recent launch of Pilipinas Angat Lahat Alliance, I shared the story of Macky Bongabong. The President’s recognition of Macky’s talent gained him a lot of momentum and I am pleased to say he has many projects lined up to express his creativity.

What I will share with you now is the success story of another creative entrepreneur. Ma. Aleta “Tatah” dela Calzado who is one of the graduates from Kapatid Mentor ME (KMME), our program in Go Negosyo. Tatah’s passion and interest paved the way for her fashion and accessories shop to be established in January 2014. Tatah enjoys thrift shopping for clothes. According to Tatah, since the products are on sale, she always ends up having to customize what she buys. This was her business idea before she joined our program.

With her creative inputs, ATE (Alter To Enhance) by Tatah offers ready-to-wear clothes, accessories, bags, and shoes that are customizable according to her customers’ wants. Tatah shared that KMME really professionalized her shop. KMME also helped her in terms of taxation and human resource management. The lessons from the modules served as her “guiding light” and “eye-opener.” She said the program refreshed her mindset and she believes that other people can be taught and mentored in order to make their business more successful.

Tatah has already expanded her business as she now has two branches in Cebu and a recently opened one in Katipunan. Just this weekend, I personally went to her store’s launch to congratulate her for the success of her enterprise. Trade Asec. Bles Lantanoya joined me in surprising Tatah who is a mentee of our joint program.

Tatah is also eyeing to open another branch in Robinsons Galleria soon. She has also gotten in touch with other government organizations in order to further improve her business. Tatah is also willing to become a mentor to help other small business owners.

Another creative entrepreneur that I would like to share with you is none other than Allan Pineda, popularly known as Apl de Ap of the pop group Black Eyed Peas.

As you all know, Apl de Ap had his humble beginning in Pampanga and has now become part of one of the most recognized musical group in the world. His success did not stop him from giving back to his homeland as he has his own Apl.de.ap Foundation which helps Filipino youth to improve their lives through various knowledge and skills training programs.

In addition, Apl, together with the British Council, Thames International Business School and the Department of Trade and Industry have launched Creative Innovators Program, a platform that will foster creative industry, gauged to render huge amount of income to the Philippine economy and generate jobs for almost six million Filipinos.

The Creative Innovators Program is also considered as a movement anchored on creativity, innovation, and entrepreneurship for social impact. Through the program, creative community leaders from the Philippines undergo a fellowship program for them to become creative hub managers. The selected fellows, then, can support and help grow hundreds of creative entrepreneurs, designers, and artists all over our country.

The program is another testament that mentorship is really key in helping our brothers and sisters. With the fellows’ guidance, Filipino can continuously learn how to improve their craft and innovate their own enterprises.

We are lucky to have Apl de Ap in the upcoming Mentor Me On Wheels in his hometown of Pampanga. As one of the mentors, he will share insights and knowledge about the creative industry, as well as on entrepreneurship. His efforts will help in serving as an agent of change to our country’s growing creative industry.

Equipping our MSMEs with the programs anchored on the 3Ms — money, market, and mentorship, will enable them to become successful — be it in any industry. I hope that Filipino entrepreneurs will continue to give back and help micro-small business owners so that they can learn and innovate through the power of mentorship.

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We would like to invite you to the seventh run of the Mentor Me On Wheels this Friday, Aug. 24, 2018 at The Block Atrium in Quezon City. We will be joined by more than 80 mentors who will share business tips and advice to all the aspiring and start-up entrepreneurs. To register, visit http://tinyurl.com/MMOWNORTHEDSA.

 

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Pilipinas Angat Lahat Alliance is here!

President Rodrigo Roa Duterte together with the Pilipinas Angat Lahat Alliance members. (Seated L-R) Sec. Ramon Lopez, Speaker Gloria Macapagal-Arroyo, President Rodrigo Duterte, Executive Secretary Salvador Medialdea and Presidential Adviser for Entrepreneurship Joey Concepcion. (Standing First Row L-R) Domingo Yap, Fr. Jose Victor Lobrigo, Paul Santos, Armando Bonifacio, Benjamin Castillo, Ramoncito Fernandez, George Barcelon, Ma. Alegria Sibal-Limjoco, Feliciano Torres, Ma. Asuncion Golez, Rex Daryanani, Bobby De Ocampo, Ma. Victoria Espano, and Richard Sanz. (Standing Back Row L-R) Josefino Sarmiento, Michelle Cordero-Garcia, Monette Hamlin, Catherine Salceda-Ileto, Joyce Co-Yu, Arlene Padua-Martinez, Florian Gottein, Ho-Ik Lee, James Wilkins, Christine Salangad- Pardiñas, Danilo Lachica, Rhoda Castro-Caliwara, Robertson Chiang, Michelle Cordero-Garcia and George Siy. 

We finally launched the Pilipinas Angat Lahat Alliance last Aug. 14 at Malacanang Palace, graced by President Rodrigo Duterte, House Speaker Gloria Macapagal-Arroyo, Executive Secretary Salvador Medialdea, Trade Secretary Ramon Lopez, government officials, members of our 30 Alliance partners, state ambassadors, mentors and entrepreneurs.

Pilipinas Angat Lahat Alliance is the effort of the Office of the Presidential Adviser for Entrepreneurship together with government and industry partners to integrate and accelerate all the government and private sector programs geared towards poverty alleviation and job generation through MSME development.The main reason for the biggest public-private alliance is to show our full support to our President’s mission of helping Filipinos who are suffering from poverty.

The Alliance will strengthen all our efforts to create an enabling and sustainable environment for all entrepreneurs through programs on money, market, and most importantly, mentorship.

I also agree with our President that through unity, cooperation, and hard work, we will achieve our aspirations for our country, including sustainable development and prosperity for all Filipinos.

Presidential Adviser for Entrepreneurship Joey Concepcion presented the Pledge of Commitment of the Pilipinas Angat Lahat Alliance to President Rodrigo Duterte last August 14, 2018 at Malacanang Palace. The Alliance pledge to commit “to the mission of pursuing inclusive growth by harnessing public-private partnership endeavors geared toward micro, small and medium enterprises (MSME) development by way of contributions to government policies and programs that will help create an enabling and sustainable business environment; and development of programs anchored on the 3Ms: Mentorship, Money and Market which will enable and propel our MSMEs toward prosperity for all.”

 

Melesa Chua, Natividad Cheng and Rex Daryanani

 

Atty. Paul Santos, William Belo and Manny Osmena                

 

Eric Alberto, Luis Miguel Aboitiz and Mike Escaler

 

Michael Tan, Olivia Limpe-Aw and Atty. Salvador Panelo

 

Executive Secretary Salvador Medialdea with the members of the Philippine Franchise Association led by President Richard Sanz (sixth from left).

 

Lance Gokongwei, William Belo and Manny Osmena

 

Federico Moreno, PFA Director for NCR; Chris Lim, PFA Director for ASEAN & Special Projects; Richard Sanz, PFA President; Trade Secretary Ramon Lopez; PA Joey Concepcion; Samie Lim, PFA Chairman Emeritus; and Dr. Alan Escalona, PFA Chairman.

 

PA Joey Concepcion greets Macky Bongabong, the artist behind the portrait of Pres. Duterte

 

PA Joey Concepcion with Sec. Ramon Lopez, Go Negosyo Adviser Ginggay Hontiveros-Malvar and the agri mentors and mentees. (Back row L-R) Mat Maderazo, Pabs Villegas, Alex Pasia, Emerson Atanacio, Ed Tariella, Glenn Villaroman, Pierre Carlo Curay, Arlon Eduerte, and Teddy Bequizon. (Front Row L-R) Shirley Ocampo, Gina Sablaon, Deborah Castillo, Marlita Basilonia, Lolita Gumapos, Thelma Dumpit, PA Joey Concepcion, Ginggay Hontiveros-Malvar, Sec. Ramon Lopez, Babie Atanacio, Josie Costales, Yolanda Rigier, Majella Villaroman, Jacqueline Aleje, Marvin Adolfo, Emereniana Realeza, Catalina Mempin.

 

Joyce Co-Yu, Tess Ngan Tian and Arlene Padua-Martinez

 

On the stage, Sec. Ramon Lopez, Speaker Gloria Macapagal-Arroyo, President Rodrigo Duterte and PA Joey Concepcion

 

President Rodrigo Duterte during his speech.

 

President Rodrigo Duterte, Speaker Gloria Macapagal-Arroyo, ES Salvador Medialdea, Sec. Ramon Lopez, and PA Joey Concepcion with Go Negosyo mentors.

 

Jaime Bautista with Manny Osmena

 

Ginggay Hontiveros-Malvar hosted the Pilipinas Angat Lahat Alliance Launch

 

Bing Limjoco, President of PCCI

 

Richard Sanz, President of PFA

 

Rex Daryanani, President of Indian Chamber

 

George Barcelon, Chairman of PCCI

 

Manny Pangilinan, one of the staunch partners of Go Negosyo

 

PA Joey Concepcion briefly highlighted the programs of Go Negosyo supported by the Alliance members.

 

President Duterte during his speech

 

Pres. Rodrigo R. Duterte with Sec. Ramon Lopez and Speaker Gloria Macapagal-Arroyo.

 

(Back Row L-R) Manny Osmena, Edgar Saavedra, Fernando Zobel de Ayala, Santi Araneta, Myla Villanueva, Myrna Yao, and Marissa Concepcion. (Middle Row From L-R) Michael Tan, William Belo, Miguel Aboitiz, Manny Pangilinan, Alice Eduardo, Lucio Tan, Henry Lim Bon Liong, Lance Gokongwei, and Alfred Ty. (Front Row from L-R) Sec. Ramon Lopez, Speaker Gloria Macapagal-Arroyo, Pres. Rodrigo Duterte, ES Salvador Medialdea, and PA Joey Concepcion.

 

Sec. Ramon Lopez, Speaker Gloria Macapagal-Arroyo, Pres. Rodrigo Duterte, ES Salvador Medialdea, and PA Joey Concepcion together with members of the House of Representatives, Go Negosyo partners, and advocates.

 

PA Joey Concepcion shared the vision behind Pilipinas Angat Lahat Alliance.

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