US targets investments in the Philippines

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Top-notch companies from the US have been on a business delegation to the Philippines from January 23 to 25 to identify investment opportunities in a country forecast to grow at around 5 per cent in 2013.

The delegation included top-executives of Citigroup, Chevron, Coca-Cola, General Electric, JPMorgan Chase, Procter & Gamble, Federal Express and others and has been led by the US-Philippines Society, a non-profit and independent organisation that seeks to raise the profile of the Philippines in the US.

The companies discussed the strategic investment environment in the region and the outlook for policy directions after the second term of President Barack Obama began in Washington. Observers say that the high-profile visit is a sign that the US wants to strengthen its economic footprint in a region where China has a strong reach and also tries to lay foundations for tighter economic cooperation within the Trans-Pacific Partnership, Obama’s strategy to counteract China’s economic dominance in ASEAN.

The Philippines’ outgoing Trade Undersecretary Cristino Panlilio said that the scheduled activities of the US trade mission included a visit to the Center for International Trade Expositions and Missions (Citem) pavilion in Pasay City.

“We ‘sell’ investments in all major sectors of the Investment Promotions Plan,” Panlilio said.

The Philippines aims to generate some 400 billion pesos ($10 billion) in investment commitments this year from 360 billion pesos in 2012.

The US is among the Philippines’ top trading partners, and it traditionally has been the Philippines’ largest foreign investor. Key exports to the US are semiconductor devices and computer peripherals, automobile parts, electric machinery, textiles and garments, wheat and animal feeds, and coconut oil. In addition to other goods, the Philippines imports raw and semi-processed materials for the manufacture of semiconductors, electronics and electrical machinery, transport equipment, and cereals and cereal preparations. The two countries have a bilateral trade and investment framework agreement and a tax treaty.

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Reading Time: 2 minutes

Top-notch companies from the US have been on a business delegation to the Philippines from January 23 to 25 to identify investment opportunities in a country forecast to grow at around 5 per cent in 2013.

Reading Time: 2 minutes

Top-notch companies from the US have been on a business delegation to the Philippines from January 23 to 25 to identify investment opportunities in a country forecast to grow at around 5 per cent in 2013.

The delegation included top-executives of Citigroup, Chevron, Coca-Cola, General Electric, JPMorgan Chase, Procter & Gamble, Federal Express and others and has been led by the US-Philippines Society, a non-profit and independent organisation that seeks to raise the profile of the Philippines in the US.

The companies discussed the strategic investment environment in the region and the outlook for policy directions after the second term of President Barack Obama began in Washington. Observers say that the high-profile visit is a sign that the US wants to strengthen its economic footprint in a region where China has a strong reach and also tries to lay foundations for tighter economic cooperation within the Trans-Pacific Partnership, Obama’s strategy to counteract China’s economic dominance in ASEAN.

The Philippines’ outgoing Trade Undersecretary Cristino Panlilio said that the scheduled activities of the US trade mission included a visit to the Center for International Trade Expositions and Missions (Citem) pavilion in Pasay City.

“We ‘sell’ investments in all major sectors of the Investment Promotions Plan,” Panlilio said.

The Philippines aims to generate some 400 billion pesos ($10 billion) in investment commitments this year from 360 billion pesos in 2012.

The US is among the Philippines’ top trading partners, and it traditionally has been the Philippines’ largest foreign investor. Key exports to the US are semiconductor devices and computer peripherals, automobile parts, electric machinery, textiles and garments, wheat and animal feeds, and coconut oil. In addition to other goods, the Philippines imports raw and semi-processed materials for the manufacture of semiconductors, electronics and electrical machinery, transport equipment, and cereals and cereal preparations. The two countries have a bilateral trade and investment framework agreement and a tax treaty.

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