29 JUNE 2023
Embassy Press and Information Section
WASHINGTON D.C. – The thriving economy of the Philippines took center stage as Filipino Americans in the Metro Washington, DC area were encouraged to explore investment opportunities in the Philippines during the Invest Smart, Tax Smart seminar held at the Romulo Hall of the Philippine Embassy in Washington, DC on 23 June.
Organized by the Philippine American Chamber of Commerce of Metro Washington DC (PACC-MDC), the seminar was part of the month-long activities in June in celebration of the 125th Anniversary of the Proclamation of Philippine Independence. Mon Abrea, Founding Chairman of the Asian Consulting Group and renowned as the country’s “Tax Whiz”, served as the resource person for the investment seminar.
In his welcome remarks, Philippine Ambassador to the United States Jose Manuel Romualdez highlighted the significance of the Philippines’ 125th anniversary celebration, emphasizing the country’s continuous progress towards economic security and resilience. He added that the impressive 7.6% GDP growth last year and the subsequent improvement in the employment rate will help further improve the lives of Filipinos. The Ambassador encouraged Filipino Americans to capitalize on the favorable investment climate, not only for personal gain, but more importantly, to contribute to the development of the Philippines.
“It is clear that the Philippines offers compelling propositions for investments, trade, and other economic partnerships not only for the American private sector, but especially for our kababayans here in the United States. Whether you prefer to invest in real estate or put up a business in the Philippines, the opportunities abound”, Ambassador Romualdez added.
Mon Abrea provided the attendees with a comprehensive list of investment opportunities, emphasizing that substantial capital is not always a prerequisite. He highlighted investment possibilities, such as Real Estate Investment Trusts (REITs), stocks and bonds, and also shed light on the incentives and tax exemptions available for Overseas Filipino Workers (OFWs) and Filipinos residing abroad who wish to invest or establish micro, small, and medium enterprises (MSMEs) in the Philippines.###