BSP honors its Central Luzon stakeholders

By Camille C. Nagano

Wednesday 1st of August 2012

CABANATUAN CITY, Nueva Ecija, Aug 1 (PIA) -- The Banko Sentral ng Pilipinas (BSP) has honored stakeholders in Central Luzon during an awards ceremony and annual appreciations lunch at BSP Cabanatuan Branch on August 1.

Monetary Board Member Armando L. Suratos led the ceremony in behalf of BSP Governor Amando M. Tetangco Jr.

The event carries the theme, “Shared goals, shared responsibilities and valued partnerships.”

“Our economy continues to register improving performance and remains resilient despite the volatile global economic environment," Suratos said. "Our recent 6.4 percent-growth performance in the first quarter of 2012 has proven that our sound macroeconomic fundamentals are well-positioned to propel us to a higher growth while enabling us to weather the increasing challenges in the external environment.”

He added, “As our country continues to tread the path towards sustainable economic progress amidst an uncertain and slow-growing global economy, we count on you, our partner-institutions, for your invaluable support in helping the BSP pursue its mandated responsibilities of promoting price and financial stability and maintaining a safe and efficient payments and settlements system. As you know well, accomplishing the BSP's objectives is not easy - but our load is made considerably lighter with your support.”

Among the 89 qualified top corporations in Region III that are respondents to the Business Expectations Survey (BES) in 2011, Producers Savings Bank Corporation and G.G. Cundangan Food Corporation emerged as winners. Producers Savings Bank Corporation, Cabanatuan City was conferred that Outstanding Respondent award among Large and Medium Firms for the BES. Headed by its president, Edmundo C. Medrano, the company started its operations in 1995 and is providing thrift banking services.

G.G. Cundangan Food Corporation based in Balagtas, Bulacan, a Jollibee Franchiser, was also recognized as the Outstanding Respondent among Small Firms in Region III. Established in 1998, the company operates a fast food business in Bulacan. It is headed by Gerardo Cundangan.

The Department of Trade and Industry (DTI) in Region 3 was also awarded the Recognition for Information Sources for the Report on Regional Economic Developments. It is headed by Regional Director Blesila A. Lantayona.

La Union Regional Office Acting Director, Beta A. Cervantes stated in her welcome remarks, “The 2012 Awards Ceremony for the BSP Stakeholders in Region 3 marks the seventh year that BSP has been hosting this event as part of its anniversary tradition. Our partnership with you is weighted heavily by the BSP. We recognize the quality and timeless of the delivery of the data that you provide to the BSP. We cannot overemphasize their usefulness in the formulation of monetary policy to stabilize inflation and banking policies to promote financial stability. The information we sourced from you has been critical.”

This annual event is one way by which the BSP gives recognition to BES respondents as well as public and private institutions that have provided exemplary support to the BSP's various statistical initiatives, information requirements and advocacy programs. Stakeholders of the BSP in the National Capital Region were earlier recognized during the awards ceremony at the BSP Main Office on July 4.

The event in Region 3, which the BSP has been holding since 2005, is the third among the regional events for this year. Similar occasions will be held in the remaining six areas outside the National Capital Region from August to September 2012. (RMB/CCN-PIA3 Nueva Ecija with reports from Dondi S. De Luna)