The Department of Trade and Industry (DTI) has urged American businesses to seize long-term investment opportunities in the Philippines, especially in such fields as renewable energy and digitalization.
DTI Secretary Cristina Roque made the pitch at the American Chamber of Commerce of the Philippines (AmCham) meeting in Makati City on March 19, saying it is not just about expansion but about contributing to a sustainable, forward-looking economy.
“The kind of partnership we seek is one that goes beyond short-term gains and builds lasting prosperity for all,” Roque said in a speech at the AmCham general assembly.
Roque emphasized to AmCham members the Philippines is a dynamic, open and resilient partner, ready to collaborate with US companies, particularly in renewable energy, digitalization, and trade expansion.
“The Philippines and the United States have deep economic and business ties (that) underpin this present commitment. American businesses have long found a home here, benefiting from our strategic location, rich natural resources, skilled English-speaking workforce, large consumer market, and supportive business environment,” Roque said.
The DTI cited its strategic priorities: international trade and investment promotion,
consumer protection measures, and programs for developing local industries.
Roque said the DTI champions balanced regional development by expanding industrial growth beyond Metro Manila. Strategic investment corridors in Subic-Clark, Batangas, Mindanao, and the Visayas are being developed to distribute economic benefits more equitably.
Roque reaffirmed the Philippines› adherence to key international trade agreements, including the Association of Southeast Asian Nations Free Trade Area, Regional Comprehensive Economic Partnership, and the upcoming Philippines-United Arab Emirates Comprehensive Economic Partnership Agreement.
These agreements strategically position the Philippines as a vital gateway to Southeast Asia, fostering expanded partnerships with the US, European Union, Japan, and other key markets, she said.
Roque also emphasized government initiatives such as setting up a Green Lane for strategic investments, the “Make It Happen” in the Philippines campaign that promotes investments, and the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy Act, which she said will drive foreign investments and economic growth.
US goods trade with the Philippines in 2024 totaled $23.5 billion. US goods exports to the Philippines last year stood at $9.3 billion, up 0.4 percent from $9.26 billion in 2023, while US goods imports from the Philippines amounted to $14.2 billion in 2024, up 6.9 percent from $13.29 billion in 2023.
The US goods trade deficit with the Philippines was $4.9 billion in 2024, wider by 21.8 percent from $4.03 billion in 2023.
Approved investments in the Philippines from the US stood at P5.67 billion last year, a 7 percent increase from P5.29 billion the preceding year, data from the Philippine Statistics Authority showed.
