Benjamin E Diokno: Opening remarks for the Regional
Macroeconomic Conference Series
Opening remarks by Mr Benjamin E Diokno, Governor of Bangko Sentral ng Pilipinas (BSP, the
central bank of the Philippines), at the Regional Macroeconomic Conference Series, Manila, 21
February 2022.
* * *
To our partners from the banking and business sectors, the academe, colleagues from the
government, members of the Monetary Board, ladies and gentlemen, good morning.
To our guests from Davao and SOCCSKSARGEN Regions, "maayong buntag." And for those
from the Bangsamoro region, "mapiya mapita." Welcome you all to our Regional Macroeconomic
Conference Series (RMCS).
This is the second leg of the regional conference since its launch in Cebu City on September 28,
2021. The RCMS is one of Regional Operations' many efforts to bring the BSP closer to the
Filipino people. We are doing this virtually for now but I look forward to when we can finally do this
face to face.
In any case, may the discussion ahead harness a broad spectrum of opinions and insights, your
experience on the ground is valuable to us as we take these in consideration in our policy
diretions.
Two topics stood out as your top concerns through a survey: 1) recent economic developments
focusing on a regional perspective and 2) general banking system developments.
Today's presentation will focus not only on the Davao Region development but also on
SOCCSKSARGEN and BARMM, particularly Maguindanao and Cotabato City.
Overall, the economy of Mindanao remains afloat despite the pandemic. Davao Region is an
emerging investment hub and is becoming a sustainable place for global business .
On the other hand, SOCCSKSARGEN Region successfully hurdles the challenge with its
competitive cities and provinces leaping strides. Meanwhile, BARMM achieved several
significant investments feats and withstood gaps and challenges .
While our current experiences pose challenges, it is also a reminder that a robust financial and
banking system combined with proactive policies can mitigate the impact of CoVID-19.
But achieving economic recovery requires contributions from the monetary and fiscal fronts, and
the private sector as well. In that sense, this event is timely as we engage with all of you as
partners in pursuit of the country's economic recovery.
With this in mind, let me share share with you a quote from German writer Johann Wolfgang von
Goethe [Gur-ta] which is relevant to this respect. "Let everyone sweep in front of his door, and
the whole world will be clean."
It is indeed a shared responsibility to continue to create a better, more inclusive approach that
can effectively sustain our agenda for economic growth. Only by working together can we
recover and build better.
I am confident that this virtual conference would bear a productive and positive outcome. I look
forward to a fruitful engagement.
Maraming salamat at Mabuhay!​