Advisories & News
Press Release
Trade Office Section holds TNK Webinar Series: “Balik Ka, Kabayan”
2020-08-08
PR 38-2020
5 Aug 2020 – Consul General Orontes Castro and other PCG Toronto officials participated in the Trabaho Negosyo Kabuhayan (TNK) Webinar Series: “Balik Ka, Kabayan. Guiding Overseas Filipinos (OFs) around the world in becoming successful investors and entrepreneurs” via ZOOM on 30 July 2020. The event was organized by the Philippine Trade Section Office of PCG Toronto, headed by Senior Trade Commissioner Ma. Roseni Alvero. Speakers in the webinar were Salve Duplito, Resident and Financial Advisor ANC On The Money and Mon Abrea, Chairman and Senior Tax Advisor, Asian Consulting Group.
Philippine Ambassador to Canada, Hon. Petronila Garcia, in her special message, stated that despite the COVID-19 pandemic, the Philippines continues to enjoy an investment-grade credit rating, reflecting the country’s strong economic fundamentals and the government’s secure financial position. The Philippine economy is expected to rebound strongly next year, and such projection is supported by the improving business sentiment in the country. She mentioned that there are emerging opportunities in several Philippine industries such as e-commerce, wireless service, agri-tourism, sustainable farming, food production and information technology. She encouraged overseas Filipinos to invest in the Philippines and help their kababayans.
Ms. Duplito discussed about the current business and investment environment, the need to improve financial literacy among Filipinos all over the world to enable them to live better lives and developing a long-term financial plan. She discussed steps to improve the financial situation of Filipinos during these challenging times which include dealing with one’s debt, regularly setting aside funds as savings no matter how small, understanding and dealing with risks, investing intelligen
tly and finally, finding time to enjoy life.
Mr. Abrea’s discussion covered a wide range of issues, including financial and tax discipline, factors to consider before making decisions on investments or starting a business in the current challenging business environment due to the COVID-19 pandemic, and understanding the relevant tax policies affecting one’s investments or businesses. He talked about the various investment options faced by investors and the risk issues that should be considered when making investment decisions. He also enumerated online resources that could help investors and entrepreneurs learn more about the Philippines’ tax policies. – END
