Let's get the thoughts of SGV's Wilson Tan and FINEX week Committee Co Chairperson Mailene Bisnar.
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NewsTranscript
00:00 How can companies sustain their recovery amid the pandemic as economic uncertainties linger here and around the world?
00:07 Let's get the thoughts of Wilson Tan and Mai Biznar from the Financial Executives Institute of the Philippines or PHINEX.
00:16 Hi, good evening, Wilson and Mai.
00:18 Welcome to The Final Word.
00:20 Yeah, thank you for having us.
00:21 It's our pleasure.
00:22 So, Wilson, we'll start with you briefly.
00:26 What are these economic uncertainties here and around the world and why should companies pivot to them?
00:33 You know, these changes have been accelerated by the global pandemic.
00:39 We thought that we need to shift from the pandemic mindset to recovery mindset now to the growth mindset.
00:46 But having a growth mindset means navigating these global uncertainties accelerated by some geopolitical situation as well.
00:54 But PHINEX is here to help our finance professional navigate these global uncertainties, especially as it affects business and as it relates to the finance function.
01:05 So, Mai, with all these adjustments and changes that were mentioned, where do financial executives come into the picture and how exactly can they help?
01:14 The finance executives can really help because they are the leaders in their business and they have to know how to pivot and adjust and be agile in this changing landscape.
01:27 So, they have the foresight.
01:28 They have the foresight.
01:29 They look into...
01:30 And mention, nowadays, we talk about transformation.
01:33 And the finance professional is in the middle of this transformation.
01:37 When you say CFO right now, it's not only looking after the finance function.
01:42 You have to engage all the stakeholders, different business units, as well as stakeholders outside of the company.
01:48 Well, you know, Wil, PHINEX has existed for over five decades, right?
01:55 55 years.
01:55 So, how has it maintained its relevance and influence, really, in the country's financial management throughout the years?
02:04 We do promote professional excellence among our members by bringing in the latest developments in the field of business, especially in finance.
02:11 So, you talk about technological advancement, AI, for example, and the latest hot topic on ESG, sustainability.
02:21 So, right now, even global investors would look at the Philippine companies and assess, would they invest in this company given their sustainability practice?
02:29 So, there are criteria to follow.
02:31 So, in next week, PHINEX week, we have 12 sessions.
02:36 12 sessions.
02:36 Across five days.
02:37 Two sessions from Monday to Thursdays.
02:40 That's online.
02:41 But on Friday, that's in person.
02:43 And we have four sessions, very interesting topics.
02:45 And our keynote speaker is the highly respected former BSP Governor, Saito Tanko.
02:51 Oh, amazing.
02:52 Yeah, he's going there.
02:53 So, it's what Wilson has mentioned, it's from Monday to Friday.
02:57 Okay.
02:58 So, on Friday, it's going to be face-to-face at Hilton Manila.
03:02 And this year's theme is navigating global uncertainty.
03:08 Towards sustainable growth.
03:10 So, tell us more about how you guys arrived at this theme and what is going to be featured.
03:16 Yeah, it's aligned with the theme of PHINEX, which is forging ahead, accelerating inclusive sustainable growth.
03:26 So, it's aligned.
03:27 So, we'll be discussing in that five-day session, we'll be discussing the evolving role of finance,
03:34 the digital inclusivity, financing inclusivity.
03:38 And we're happy that for this year, we are also focusing on the role of the youth,
03:44 engaging the youth towards sustainable growth.
03:46 So, we'll also talk about building sustainable cities.
03:50 So, there are a lot of issues we're going to tackle.
03:54 So, it's going to put a spotlight on a lot of different things.
03:58 But what sets this year's PHINEX Week apart from past conferences?
04:05 Well, we're going to kick off the PHINEX Week by having a flag ceremony at the Luneta Park.
04:11 Oh, wow.
04:12 So, this is in conjunction with the salute to the clean flag movement.
04:19 So, 8 o'clock in the morning, Luneta Park, Monday, we will be there to kick it off.
04:24 And of course, the series of seminars and sessions throughout the week,
04:29 12 sessions, full pack, knowledge sharing, engaging one.
04:32 Well, it sounds like it's going to be an amazing peak week, packed with so much learning.
04:39 But the past year has definitely seen several rapid developments,
04:43 as you mentioned earlier, in various fields like technology and energy.
04:48 How is this year's event helping companies and their leaders kind of address this?
04:53 We have invited very good resource speakers on those topics,
04:57 dealing with technological trends, dealing with sustainability,
05:02 dealing with building smart cities.
05:05 So, I'm sure that the attendees will be updated on those topics,
05:11 and they'll be coming out equipped with the necessary tools
05:17 to help the respective companies navigate this new, exciting environment.
05:22 Well, I'm sure that a lot of people will take away so much from this Phenex Week.
05:27 But what particular lesson would you want participants in this year's Phenex Week
05:33 to really take to heart?
05:36 Take a key takeaway.
05:38 Given this dynamic environment, we have to be agile, we have to be able to adapt,
05:45 and we have to learn how to collaborate.
05:47 That's why one of the topics is about digitalization, about entering into alliances,
05:55 because that's the way to go – collaboration.
05:59 Alright, and on that note, do invite our viewers
06:03 who would want to be part of this year's Phenex Week. How can they join?
06:07 Yeah, we invite everyone to join us. It's a public event.
06:11 So, it's from Monday to Friday, October 2 to 6.
06:15 It's going to be virtual, Monday to Thursday,
06:19 and on Friday, it's going to be face-to-face at Hilton Manila.
06:24 So, to know more about the event, you can log on to www.phoenix.org.ph.
06:29 Alright, thank you very much for joining us once again,
06:32 Wilson Tan and Mai Bisnar from Phenex.
06:36 Thank you for having us.