#2016PBIF - Key Quotes - Marc Mealy: 'Maturation of Financial Sector'
2016 Philippines Business & Investment Forum:
Over the past five years, the Philippines has gone from being known as the “sick man” of Asia to the region’s stellar performer, lauded by international investors and analysts as one of the most promising countries for future growth and investment.
As evidence, in 2013 the three major international credit rating agencies – Standard & Poor’s, Moody’s and Fitch - all raised the Philippines’ sovereign debt to an investment grade rating, the first time it has achieved this status. The country’s GDP grew at an average of 6.3 per cent from 2010-2014, the highest five-year average in the past 40 years. In order for the country to realize its potential over the next decade, the current consumer-driven expansion will have to change to investment-led growth. Although last year ́s $6.2 billion in foreign investment was the highest figure ever, more international investment is required in strategic areas such as infrastructure, manufacturing, energy, agriculture, education and healthcare.
The Philippines Business & Investment Forum in New York will bring together influential leaders from the Filipino government and private sector, along with their U.S. and relevant international counterparts for an in-depth analysis of the Philippine economic and political situation and the opportunities it holds for investors, both in capital markets and in industry.
Marc Mealy, Vice President-Policy, US-ASEAN Business Council:
Marc Mealy is the Vice President-Policy at the US-ASEAN Business Council. He joined the Council in 2003 as the Senior Director for Malaysia, Philippines and Brunei Affairs as well as Coordinator of the Council's ASEAN Financial Services Working Group. He was named the Vice President in 2010.
Marc has over twenty years of experience in international trade and economics.
He began his professional career in 1989 as an international economist with International Trade Policy Division of USDA's Foreign Agricultural Services. While at USDA he was accepted into the United States Foreign Service, and later went on to manage some of USDA’s largest commodity trade finance (GSM) and food assistance programs (PL-480) in Asia, Africa, and Eastern Europe for USDA’s Commodity Credit Corporation.
In 1994-1996, he joined the African American Institute, an international non-profit NGO, as the Director of its Trade and Investment Program and later worked as a consultant to foreign government and international development NGO’s.
Prior to joining the Council Marc spent four years inside the U.S. Congress. From 1999-2001 he was a member of the Professional Staff of the House International Relations Committee. From 2001 to 2003, he served as the international economic and foreign policy advisor to Congressmen Gregory Meeks of New York, a member of the House Foreign Affairs and Financial Services Committees.
Marc holds a B.A. in Economics and Third World Studies from Oberlin College and an M.S. degree in Economics from the University of Florida.