The Philippines Japan Economic Cooperation Committee (PHILJEC) and The Philippines Japan Society (PJS) hosted a cocktail reception on July 10, 2017 for new BSP Governor Nestor A. Espenilla, Jr.. Governor Espenilla was a Monbusho Scholar of the Japanese Government from 1986-1988 for his Master in Policy Science degree from Japan’s premier National Graduate Institute for Policy Studies (GRIPS).
Japan’s Ambassador to the Philippines, H.E. Kazuhide Ishikawa and Grand Cordon of the Order of the Rising Sun Awardee, former Philippine Prime Minister Cesar Virata graced the reception held at the Mayuree 2 Ballroom, Dusit Hotel, Makati City.
PHILJEC Chairman Aniceto G. Saludo and PJS President Francis C. Laurel led their respective organizations during the reception. PHILJEC Co-Chairman Edwin Umali, Co-Chairman Gerry Sanvictores, and PHILJEC Secretary General and PJS Trustee JJ Soriano (also from GRIPS) were also present.
In his speech titled, “The Philippines and Japan: Enhancing Strategic Partnership”, Gov. Espenilla recalled his experiences and insights as a Monbusho scholar 31 years ago.
“What a different world it was in 1986!” exclaimed the Governor. “Yet, despite all these vast changes, the Philippines-Japan Society has been unwavering in its commitment to foster closer ties between our nations – even as early as 1972, when it was formally established! I likewise commend the Philippines-Japan Economic Cooperation Committee for its steadfast initiatives to promote closer economic ties between the Philippines and Japan.”
Another insight Gov. Espenilla shared was his observation about Japanese culture and how it emphasizes cultivating a sense of self vis-à-vis others and society. “I believe this emphasis on harmony and collaboration accounts for our countries’ long-standing relationship. Cooperation between our nations has paved the way for the advancement of our economic and trade relations.”
Under his term as BSP Governor, Gov. Espenilla said that he would ensure that an enabling monetary and financial environment is maintained to achieve the country’s growth objectives, while safeguarding price and financial stability. He also talked about the increasing presence of foreign banks, in particular 5 Japan-based banks in the Philippines and how this would facilitate the flow of investments, promote trade, support business expansion, and encourage technology transfers, that may lead to more job creation and more productive output. Against this backdrop, Japanese investors in the country can look forward to expanded opportunities for growth and investments.
Read the full speech of Gov. Espenilla here.
