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Next chapter for growth in the Philippines

March 26, 2014

David Merritt, Executive Editor for Asia Pacific, Bloomberg News; Hon. Cesar V. Purisima, Philippines Secretary of Finance; Mark Flatman, Head of Sales for Asia Pacific, Bloomberg

Last night we celebrated the opening of our expanded office in Manila. I was delighted so many people from the business and financial community were able to join us, including Finance Secretary the Honorable Cesar Purisima.

Philippines’ extraordinary growth and resilience in the face of challenging global financial sector conditions makes it an important market for our clients and for Bloomberg. The expansion of our office and the enhanced commitment across our news, sales, data and support functions is a corollary of this incredible growth and progress.

With economic growth of 7.6% last year, renewed stability in the Peso and the return of capital inflows, it’s an exciting time for us to be bringing financial information, data and news about the Philippines to the world – and from the rest of the globe to our users and readers there.

As the Philippines continues on its growth trajectory, critical to further development is access to reliable news, data and analytics to make informed investment decisions and electronic solutions to execute them seamlessly.

Through our collaboration with government agencies, industry associations, and banks, Bloomberg is enhancing market transparency, building communities and educating the market in the Philippines.

Last year as a first step toward greater integration of ASEAN’s bond markets, we launched the ASEAN Bond Portal in collaboration with five banks, including Security Bank of the Philippines. The Portal for the first time, aggregated bond prices across Southeast Asia, injecting transparency into the marketplace.

Combined with our cross asset coverage and integrated trading and portfolio management solutions, the Bloomberg Professional service allows investors to work seamlessly and more cost effectively off a single platform.

The last few years have been a clear indication of the role the Philippines is playing as an increasingly important driver in the broader ASEAN and Asian economic community. According to the WEF, the Philippines is in the process of writing a very strong economic comeback story and is poised to be one of the strongest performing South East Asian economies this year.

We believe our story in the Philippines has just begun and we look forward to writing the next chapter by continuing to innovate and deepen our value to banks and corporations in the areas of equities, fixed income and foreign exchange.

Our ongoing work with government agencies, industry associations and banks places us in a unique position as a partner, innovator and facilitator for market transparency across many Asia markets. This evening’s event has reinforced the important role Bloomberg plays in contributing to vibrant business communities wherever we operate. Our office in Manila is another example of that, joining offices in Sydney, Seoul, Wellington, Malaysia and others that have all expanded in the last year.

Contributed by Mark Flatman, Head of Sales for Asia Pacific, Bloomberg