The Philippines should be aggressive in attracting investments from the United States where businesses are increasingly starting to diversify locations from China to the Asean region.
At the Kapihan sa Manila Bay yesterday, Jose Manuel Romualdez, Philippine ambassador to the US, cited the need to be active in promoting the Philippines which competes with Thailand and Vietnam for investments.
Romualdez expressed hope the Philippines through the economic team can hold more in-person forums and go to the US to promote investments.
To start this initiative, Romualdez said he will meet with Finance Secretary Benjamin Diokno and the rest of the economic managers on Friday.
Romualdez counts the investment of US financial company Cerberus in the shipbuilding facility of Hanjin Heavy Industries and Construction Philippines in Subic as one of the biggest clinched the past two years despite the pandemic.
“There were a lot of complications, legal problems…in the end… Cerberus put together this whole package to be able to rehabilitate Hanjin,” he said.
With the start of the rehabilitation process, about 1,000 employees are now working at the facility.
This will go up to as many as 30,000. – Irma Isip
