DOHA: A group of Filipino professionals, businessmen, investors and entrepreneurs have joined hands and set up a forum to share experiences with the community.
The Philippine Business Council-Qatar launched to promote financial and business acumen in the Filipino community is expanding its membership base.
It aims to promote private sector trade and investment between the Philippines and Qatar and provide assistance, advice and promotional support to Filipino business community here.
The next meeting of the Council will be on May 8 and on agenda is a discussion on how to prepare an effective business plan.
A senior council official said yesterday that future meetings will focus on varying other issues related to business and investment.
Setting up a business in Qatar and tips on stock trading and personal finance management and financial management for non-finance persons will be some of the key topics.
Lyndon Magsino, the council’s Vice-President, said fundamental and technical analysis of stocks and mutual fund and insurance investments are also lined up for future discussions.
The council was formed last November under the auspices of the Philippine embassy, and in its recent interactive session was attended by some 120 participants, including members.
Ambassador Crescente R Relacion, present as a guest of honour, hailed the organisation and said entrepreneurial diplomacy and development were one of the major roles of the embassy.
The highlight of the session was a panel discussion with Chairman of the council, Greg Loayon, General Manager of Zurich Internal Qatar, with Bob Lepon, Senior Director of an audit firm here and the council’s Adviser and Vice-Chairman Magsino, who is a senior audit manager with a leading bank in Doha.
Richard Ali, the council’s Treasurer, said participants were really excited to share various business opportunities at the event and discuss possible collaborations in future.
In remarks to this newspaper yesterday, Magsino said there were an estimated 5,000 Filipino CPAs (certified public accountants) in Qatar. Magsino is a double CPA (from the US and the Philippines).
The strength of the Filipino community here is estimated to be 250,000.
The council, which has some 50 members, is expanding its membership base. Membership is open to all Filipinos in Qatar, he said. Those keen can email the Council on info@phbusinesscouncil.com
Asked if the council planned to create awareness about savings and investment among low-income overseas Filipinos such as maids, Magsino said they were not part of “our target audience”. Various insurance and other security schemes of the Philippine government are available to such workers, he said. “Our target audience mainly comprises professionals.”
Asked about Filipino businessmen in Qatar, he said he knew of around 50. “There could be more or even less.” Most Filipino businesses here relate to food. Besides, there are three engineering consultancies.
Magsino reacted sharply when told that the general impression about Filipinos in Qatar was that they were happy-go-lucky and less savings-oriented.
“Not at all… I don’t know how you got this wrong impression. If you mean they don’t save locally, that is true, but they mostly send money home for investment.”
The Peninsula
