RP Investor Relations Program Rated worlda[euro][TM]s No.1 by inta[euro][TM]l Body
Byline: LEE C. CHIPONGIAN
The Washington-based Institute of International Finance ranked the Philippine investor relations program as No. 1 among thirty other emerging countries surveyed and reviewed.
The Philippines and Brazil topped the IIF list in a December 8 report "Investor Relations: An Approach to Effective Communication and Enhanced Transparency 2005 Assessment of Key Borrowing Countries".
This means the IIF a" which is a global association of financial institutions, in its assessment said the investor relations and the countryas data transparency practices are better than China, Korea, Thailand, Malaysia, Chile, Russia and Turkey.
According to Bangko Sentral ng Pilipinas Governor Amando M. Tetangco Jr., the central bank has been strictly adhering with its commitment for the timely release of data covered by the international data release standards, especially the Special Data Dissemination Standard or SDDS.
"Governments are not that different from publicly-traded companies," Tetangco said. "The government also has many stakeholders who require timely and accurate information about the fiscal and economic health of the Philippines." He said that a professional, proactive investor relations program is critical to ensuring these stakeholders have the information they need to make critical business and investment decisions.
For his part, Finance Secretary Margarito B. Teves said recent favorable developments and commitment to reforms have provided a strong platform for communicating to domestic and international public.
"The IIFas recognition of the govern-mentas approach to investor relations is a further demonstration of our commitment to create a conducive environment for increased portfolio and foreign direct investment in the Philippines," said Teves. …