INVESTMENT GUIDE TO PHILIPPINES LAUNCHED BY CITIBANK.NEW YORK--(BUSINESS WIRE)--May 16, 1996--Citibank will present a copy of its new investment guide to the Philippines to Roberto F. de Ocampo, the country's Finance Secretary, at an investment conference of the Philippine American Chambers of Commerce in Washington, D.C. tomorrow. The guide, the latest in a series of guides to Asian economies, contains articles arguing the case for foreign investment. Citibank's country manager, Suresh Maharaj says: "We make the case that now is the opportune moment to stake a participation in this emerging and dynamic market." The guide also includes messages from Mr Gabriel C. Singson, Governor of the Bangko Sentral ng Pilipinas The Bangko Sentral ng Pilipinas (BSP) is the central bank of the Republic of the Philippines. It was rechartered on July 3, 1993, pursuant to the provisions of the 1987 Philippine Constitution and the New Central Bank Act of 1993. and from Mr de Ocampo, who said that the guide "will surely serve as an invaluable aid to prospective investors who are looking out for opportunities that will give them value for their money." In a lead article in the guide, newspaper columnist Noun 1. newspaper columnist - a columnist who writes for newspapers agony aunt - a newspaper columnist who answers questions and offers advice on personal problems to people who write in columnist, editorialist - a journalist who writes editorials Amando Doronila analyzes the "undisputed turnaround story" of the Philippine economy and notes that economic recovery and growth have occurred "within the context of the free market." Dr Bernardo Villegas, Dean of the School of Economics of the University of Asia and the Pacific The University of Asia and the Pacific (UA&P) is one of the leading schools in Metro Manila for students seeking a degree in the different disciplines of business: from communication to management. It traces its beginnings to the Center for Research and Communication (CRC). , discusses the economic fundamentals which prove that growth is real and sustainable. Citibank has a long history of involvement in and support for the Philippine economy, having first opened a branch in the country in 1902. Earlier this month, President Fidel Ramos awarded a presidential citation to Citibank for its contributions to economic development, to the growth of the financial sector and capital markets and to the completion of the country's debt restructuring Debt Restructuring A method used by companies with outstanding debt obligations to alter the terms of the debt agreements in order to achieve some advantage. Notes: agreement in the early 1990s. The citation was received by Citibank vice chairman, William R. Rhodes William R. "Bill" Rhodes is the Senior Vice Chairman of Citigroup Inc. and the Chairman of Citigroup and Citibank. He is also Chairman of the Board of both the Americas Society . The bank now operates major commercial and consumer banking businesses in the Philippines and is headquartered at the Citibank Tower, 8741 Paseo de Roxas, Makati, Metro Manila For the capital city of the Philippines, see . Metropolitan Manila (Filipino: Kalakhang Maynila) or the National Capital Region (NCR) (Filipino: Pambansang Punong Rehiyon . Citibank has published investment guides to China, Indonesia, Malaysia, Thailand and Vietnam during the last 18 months. Copies of this latest guide are available through embassies of the government of the Philippines around the world or from Citibank in the Philippines or New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of . CONTACT: Citibank, New York Kenneth Campbell, 212/559-0048 or Citibank, Manila Juris Soliman, 011-63-2-894-7650 |
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