to highlight key structural reforms that will help the bsp to more effectively perform its mandates. 4 / 5 bis central bankers'speeches under my watch, the bsp shall have strict and prompt implementation of recently enacted laws namely : 1. amendments to the bsp charter 2. national payment systems act, 3. national id system, and 4. the gold law the bsp also advocates these bills that have been passed in congress, which needless to say, we shall strictly implement upon their passage. 5. islamic banking bill and the 6. anti - bank hacking system bill which places harsher penalties for hacking of bank systems and skimming of atms or the anti - bank hacking legislation. taken together, these laws will help enhance the macroeconomic environment, promote growth, and improve investment prospects in the country. as we all know, investments are fundamental to economic growth and development, especially amid an increasingly integrated global economy. it is for this reason that we are glad to engage the british chamber to share our views on “ fueling the growth of fdis in the philippines. ” this is in line with the goal of strengthening the position of the country as one of the favored destinations for fdis. on the part of bsp, please rest assured that we stand ready to support efforts to fuel further fdi growth in the philippines within the bounds of our mandate. it is my view that pursuing business opportunities in the philippines will indeed be mutually beneficial for both foreign investors and the domestic economy. thank you very much and a pleasant day to all. 1 i. e., board of investments ( boi ), clark development corporation ( cdc ), philippine economic zone authority ( peza ), subic bay metropolitan authority ( sbma ), authority of the freeport area of bataan ( afab ), boiautonomous region of muslim mindanao ( boi - armm ), and cagayan economic zone authority ( ceza ) 2 japan came in second pledging php9. 4 billion or 20. 5 percent of the total and thailand taking the third spot with pledges amounting to php8. 5 billion or 18. 4 percent of the total approved fis. 3 administrative and support service activities came in second with investment commitments valued at php3. 5 billion or 7. 7 percent of the total fi. accommodation and food service activities followed with php2. 9 billion or 6. 4 percent of total fi commitments. 4 world bank “ philippines – discussion notes :

seeks to develop a multilateral solution connecting the real - time payment systems of participating countries. as we actively work toward digitalization, we also recognize the accompanying risks. according to the latest banking sector outlook survey, banks consider cybersecurity risk as one of the top threats on their digital agenda. as a regulator, we are working toward managing and reducing these risks through tough and responsive regulations. the bsp is crafting cybersecurity policies that will require banks and other financial institutions under our supervision to adopt even more robust technology risk management systems and effective cybersecurity resilience controls and measures. the bsp recognizes that improved legislation will allow it to better address cybersecurity risks and combat cybercrimes. we continue to support the passage of various legislative reforms that will put more teeth into the country's fight against cybercrimes and increase confidence in the digital financial system. as we turn the spotlight on the awardees, let us take to heart the importance of cooperation between the public and private sectors in fostering an enabling environment for the safe and efficient delivery of digital financial services. congratulations to the awardees, and may you continue to blaze the digital trail for others to follow. mabuhay po kayong lahat! 3 / 3 bis - central bankers'speeches