(right) The Team Philippines: Dr. Estanislao, BSP Governor Amando Tetangco, SEC Chair Fe Barin, PSE President Francis Lim, DOF Undersecretary Jeremias Paul, and Mr. Oscar Lopez of the Lopez Group of Companies after giving presentations describing the Philippines’ progress and the challenges it faces in pursuing CG reform.

The Philippines, through the Institute of Corporate Directors, played host to the Organisation for Economic Co-operation and Development’s Asian Roundtable on Corporate Governance,  which sought to review the continuing efforts in CG in the region since the ARCG’s establishment in 1999 and to take a hard look at where it may be expected to go ten years hence.
The two-day meeting, on 9-10 September 2009, included a discussion on Corporate Governance and the Financial Crisis and the way ahead; and a look at the role of stock exchanges in promoting corporate governance in Asia – all with a view to defining the directions to be taken towards Corporate Governance in Asia: Ten Years From Now.
Also noteworthy during this event was the launch of the OECD Governance Series “Guide on Fighting Abusive Related Party Transactions in Asia.”

The 110 participants from the Philippines were composed of representatives of top corporations, regulators, the media, and other guests. 55 of these participants were Fellows and Associates of the ICD. Breakout Sessions were held in order to draw out the participant’s ideas on the future of CG in Asia and how the OECD can contribute to its improvement.
Secretary of Finance Margarito Teves gave the Welcome Address at the Gala Dinner hosted by the Department of Finance. During the dinner, participants were entertained by a cultural show by the world-renowned “Bayanihan Dancers.”

The ARCG is a regional forum where Asian economies exchange their experiences and advance the reform agenda on corporate governance, organized by the OECD and guided by its Principles of Corporate Governance. It aims to raise awareness and assist decision-makers to improve CG. The ARCG gathers major policy makers, practitioners and experts on corporate governance in the region, from OECD countries and international institutions.