The United States-led Indo-Pacific Economic Framework, in which the Philippines is participating, was cited as another platform by which the US and Philippine business relations may be strengthened.
American companies which have long established presence in the country can also build on the success of their operations here.
The Department of Trade and Industry (DTI) said in a statement these were highlighted by the Philippine delegation during President Ferdinand Marcos Jr.’s visit to the United States last week.
The delegation met with officials US-based global companies which have made the Philippines their home for a long time.
Among these companies are Texas Instruments, MOOG, FedEx, Concentrix (which acquired Convergys), JP Morgan Global Service Center, and IBM.
The DTI said the identified areas of partnership include improving the business climate, building the necessary physical infrastructure, and upskilling the workforce.
In a separate statement, Go Negosyo said a high-level roundtable meeting organized by Asia Society Philippines last September 23 was attended by some of the world’s largest private equity investors in aviation, big infrastructure, energy, fintech and payments, e-commerce, and digital infrastructure were in attendance.
The investors in attendance included former ambassador John Negroponte of McLarty Associates, Ken Mehlman of KKR, Andrew Thomas of Stonepeak, Mark Tatum of NBA, Dinesh Kanna of Boston Consulting, Michael Kirban of VitaCoco, Proof of Learn founder Shiela Marcelo, Asia Society trustee Asheet Mehta of McKinsey, Nick Rohatyn of The Rohatyn Group, Itai Lemberger of Bow Wave Capital, Brian Franke of Indigo Partners, and Alibaba co-founder Joe Tsai, who is also invested in Mynt, or Gcash. Asia Society was instrumental in bringing in its network of investors, most of whom are already invested in the Philippines, and shared insights about opportunities as the new administration transforms the economy.
“This government has been very supportive of the private sector and public participation.
The President is very keen to get the private sector involved and we are delighted with that,” said Ayala Corp. chairman Jaime Augusto Zobel de Ayala during the Public Economic Briefing held during the President’s visit. He addedit is now up to the private sector to maximize the favorable business environment under the Marcos administration.
