Confidence in Philippines’ economic resilience underpins Security Bank and MUFG’s 3rd Business Matching Fair

Security Bank Corporation (PSE: SECB) and MUFG Bank, Ltd. (MUFG) successfully organized a Business Matching Fair held from July 14-16, 2021. Close to 130 companies participated in this year’s event, which was held virtually. This is the third fair hosted by both banks in Manila which aims to strengthen business ties between the Philippines and open more opportunities for countries within the region through the MUFG network.

This year, the two strategic banking partners have arranged a total of 183 collaborative meetings to provide clients with an avenue to expand networks and grow their businesses despite the pandemic. A total of 73 businesses from Japan, 33 from the Philippines, 20 from Thailand and Indonesia (through the MUFG network including strategic partnerships), were in attendance, with several participants coming from the fast-moving consumer goods industry (FMCG), retail sector and the food beverage industry. 

“We, at Security Bank, are pleased to continue our business matching fairs with MUFG. The prevailing interest of companies in these fairs not only showcases the expansive network that the MUFG connection has provided us but also shows how the Philippines continues to be resilient despite the pandemic and remains to be an attractive investment destination.” says President and CEO of Security Bank, Sanjiv Vohra.

Foreign businesses in Japan and the ASEAN region remain bullish on the growth of the Philippine economy despite the lingering effects of the current global health crisis. Investors see the Philippines’ strong labor force as a key driver for foreign direct investments. 

Security Bank and MUFG are optimistic that businesses can capitalize on this positive economic outlook through the Business Matching Fair, which aims to increase foreign investments in the Philippines. 

Takeshi Hashida, Managing Director and Country Head for MUFG Bank, Manila Branch, said: During these unprecedented times, we all had to embrace new ways of doing business and engaging with our clients. This virtual networking session is a continuation of the efforts between MUFG and Security Bank to proactively work with our customers to explore growth opportunities and build greater resilience into their businesses. It is certainly encouraging to see the positive response to this latest networking fair, which goes to show how important the Philippine market continues to be for Japanese corporates.” 

“This year also marks the fifth anniversary of MUFG and Security Bank’s strategic partnership. We are both united by our commitment to support the growth of the Philippines and will continue to work together to facilitate foreign investment and collaboration with the local business community.” he added.

Following a rigorous screening process, SBC and MUFG strategized and identified clients that complement each other’s goals and needs. Through the Business Matching Fair, participants have leveraged on SBC’s and MUFG’s reputation, financial capability and vast network to meet new prospective business partners.

The strategic partners are hopeful that the Business Matching Fair will continue to strengthen trade relations between the Philippines, Japan, Thailand, Vietnam and Indonesia. In 2018, Security Bank and MUFG signed an agreement with the Philippine Board of Investments (BOI) to promote investments in the country by linking Philippine and Japanese investors.

The Business Matching Fair is a major business gathering event jointly organized by Security Bank and MUFG Bank to strengthen business ties between the two countries, encourage increased collaboration and open more opportunities for companies in the region.

Since the first fair in 2017, more than 400 collaborative meetings have been arranged not only between the Philippines and Japan but also with MUFG partner banks in Thailand and Vietnam. Many corporations who were matched from various sectors continued to engage and have since taken advantage of the opportunity to expand their business horizons in the region.   

In 2020, both banks continued to leverage their combined networks and capabilities to collaborate on various initiatives, such as facilitating the joint venture between Security Bank and another of MUFG’s strategic partners, Bank of Ayudhya (Krungsri) of Thailand, through SB Finance.

To find out more about Security Bank’s services and the world-class banking services of the MUFG network, visit www.securitybank.com or https://www.mufg.jp/english respectively. You may also visit Security Bank’s facebook page at www.facebook.com/SecurityBank.

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