SAN FRANCISCO – A group of international business students from the University of San Francisco (USF) recently paid a courtesy visit to the Philippine Consulate on April 25 to learn about the economic and business landscape in the Philippines.
Consul General Neil Ferrer welcomed the group, accompanied by Associate Director Monika Hudson, Director of Gellert Family Business Center, School of Management at USF.
Consul Vanessa Bago-Llona and Trade Commissioner Celynne Layug also met the group to discuss the students’ interest in understanding the work of the Consulate in terms of economic and trade and investment promotion.
Consul General Ferrer briefed the students on the Philippine economy, which recently posted a GDP growth rate of 7.6%. He underscored the robust bilateral relations between the Philippines and the U.S. as highlighted in the recent Philippines-U.S. 2+2 Ministerial Dialogue, and an upcoming official visit of Philippine President Ferdinand R. Marcos Jr. to the U.S. He also underscored structural reforms that aim to pave way for more foreign investments, such as amending the Public Service Act, allowing 100% foreign investments in public services.
Trade Commissioner Layug noted the Philippines’ strategic location in Southeast Asia and ASEAN, whose population totaled 668 million with a GDP of $3.38 trillion, and increasing economic opportunities, especially with the Philippines’ ratification of the free trade agreement Regional Comprehensive Economic Partnership.
The students were briefed about the work of the Consulate and the Philippine Trade and Investment Center in Silicon Valley in terms of growing the Philippine startup ecosystem by connecting startups in the Philippines for mentorship under the ambit of the first Filipino American co-working space, Dynamico, and highlighting the country as a Southeast Asia launchpad, especially for businesses expanding in the region; investments promotion in ITBPM, healthcare, electronics manufacturing and the creatives industry; and promoting sustainable products.
During their visit, the students had the opportunity to ask the Consul General on various topics, including the current state of the Philippine economy, local business trends, and training opportunities in the region.
The USF is one of the oldest institutions for higher learning located at the heart of San Francisco. Its School of Management offers a range of undergraduate and graduate programs in business, including entrepreneurship, finance, and marketing.
(PCGSF Release)
