HSBC is eyeing a bigger role in the Philippine capital markets and opportunities from artificial intelligence as the British banking giant seeks to deepen its presence in the country.
HSBC Asia and Middle East co-CEO Surendra Rosha met Finance Secretary Frederick Go in Hong Kong to discuss ways to attract more foreign investors to Philippine government securities and deepen the domestic debt market.
The talks also covered AI and its potential impact on the Philippine workforce, particularly in industries such as business process outsourcing. Both sides saw scope for the technology to complement jobs that still require human expertise and accountability.
Go cited resilient remittances, a growing BPO industry, strong exports and consumer spending as supports for the Philippine economy.
HSBC Philippines CEO Sandeep Uppal, National Treasurer Sharon Almanza, Finance Assistant Secretary Neil Adrian Cabiles and Bangko Sentral ng Pilipinas Deputy Governor Zeno Ronald Abenoja also attended.
