philippine economy mirrors the southeast asian experience. after the pursuit of strategic, targeted and purposeful reforms over the last two decades, the philippines now enjoys an economic bright spot, with 76 consecutive quarters of positive gdp growth. moreover, this sustained economic expansion was achieved in an environment of generally low and stable inflation. the continued stability and soundness of the financial system also contributed to the economy ’ s resurgence. the external sector has been a pillar of strength for many years. given expectations of strong growth of 7. 0 - 8. 0 percent over the medium term, we expect philippine contribution to the overall asean + 3 output to rise over time. 1 / 2 bis central bankers'speeches so, is it time to relax? in fact, the concept note prepared for this seminar comprehensively captures the emerging challenges that confront the asean + 3 economies in the new world order and during this time of the fourth industrial revolution. among the issues that the distinguished panel of speakers will be addressing today include those relating to demographic transition, the rapid rise of disruptive technologies, raising productivity, and accelerating further market integration among the asean + 3 economies. the way governments tackle policymaking and the way businesses are operated are being altered by megatrends like those earlier mentioned, along with a rebalancing of the world economy, furious urbanization, climate change, and the adoption of inward - looking policies. these trends cannot be ignored. they contribute to the uncertainties faced by the region and by the individual countries that comprise it. as we confront these challenges, globalization and greater regional integration remain key. however, i believe that for these growth engines to continue to pay off amid global uncertainties, there has to transpire a seamless fusion between conventional growth models and forwardlooking strategies aimed at ensuring sustained economic resilience in a technology - savvy future. this is indeed an exciting time for the region and there is no better venue to discuss our endless potential and possibilities. we look forward to the insights our keynote speaker and distinguished panelists will share with us today. thank you and welcome once again to the bsp - amro joint seminar! 2 / 2 bis central bankers'speeches

the construction of this completed commercial property, which will now house the nadi branch, is indeed a mission accomplished. i understand that this is a non - flood prone area, but even so ccfl has taken the necessary steps to meet challenges faced during times of natural disasters equipping the site with backup water supply and power generators and improving safety for staff and tenants. the building has been designed with a modern, functional and efficient concept ; and the significantly larger floor space also intends to provide comfort to both customers and staff. with these state of the art features, we can definitely expect to see a lift in ccfl ’ s profile and visibility in the west. concluding remarks ladies and gentlemen, the opening of this new building is testament to the commitment of the institution to its customers and to the country, as it seeks to increase its facilitation of financial intermediation, and grow its investment in fiji. my warmest congratulations to the credit corporation team on the opening of this new building, and i wish you all the very best in your future endeavours. bis central bankers ’ speeches official opening i thank the board and management again for the invitation to be here today, and now have much pleasure in declaring credit corporation ( fiji ) limited ’ s new namaka building, open. vinaka vakalevu. bis central bankers ’ speeches