Let's press on: De Ocampo - former Philippine Finance Secretary Mr Roberto De Ocampo

Business Asia, May 17, 1999

The Philippines must continue to promote savings and its capital market to ensure it retains the edge over its ailing Asian neighbours, says former Finance Secretary Mr Roberto De Ocampo.

Regarded as one of Asia's leading economic thinkers, Mr De Ocampo said recently that the new Estrada Government should not "drown itself with the idea that the recovery is at hand lest it wants to find itself (hit) by the external factors".

On the back of reforms implemented under the former Ramos Government, the Philippines is considered to have weathered Asia's crisis better than most.

"While we can happily say we are better, our savings rate is still poor and the capital market has to be promoted," warned Mr De Ocampo, who was Finance Secretary from 1994 to 1998.

Mr De Ocampo will be the keynote speaker at this year's Business Asia News Magazine Awards.

His resume includes recognition as the world's Finance Minister of the Year in 1995 (see panel).

He continues a long line of prominent guest speakers at the awards, including current Thailand Prime Minister Chuan Leekpai, prominent Hong Kong businessman T.T. Tsui and Dr Noordin Sopiee, the chief executive of Malaysia's Institute of Strategic and International Studies.

Now in their sixth year, the Business Asia Awards recognise outstanding achievements in business, trade and investment between Australia and Asia.

Winners in each of the seven categories will be announced at a gala dinner in Sydney on May 27.

Citibank has sponsored the awards since their inception. This year's master of ceremonies is ABC-TV news presenter Lexy Hamilton-Smith.

Voting for the awards closes on May 18. Readers are encouraged to nominate their preferred finalists by filling in the coupon on this page.

This edition features finalists in the remaining two categories.

HONOURABLE MENTIONS ...

Honours and awards received by Roberto De Ocampo.

* Philippine Legion of Honour (1998): Awarded for services to economy.

* Finance Minister of the Year (1995): Awarded by Euromoney magazine.

* ASEAN Finance Minister of the Year (1997): Awarded by Asiamoney magazine.

* ADFIAP Man of the Year (1997): Awarded by the Association of Development Financing Institutions in the Asia-Pacific region.