The United States Asean Business Council (US ABC) has affirmed the Philippines is now more prominently on the radar screen of US companies, according to the Department of Finance (DOF).
In a social media post yesterday, the DOF said Finance Secretary Ralph Recto engaged in a strategic dialogue with the US ABC on October 24 in Washington, DC.
According to the DOF, members of the Council expressed bullishness over the investment opportunities in the Philippines.
Recto provided US ABC with updates on the Philippines’ economic outlook and the business-friendly reforms that have made the country more attractive to foreign investors.
He also addressed key investor concerns and broached sectors ripe for US investments, particularly defense and security.
The finance chief also noted the recent Trilateral Partnership between the US, the Philippines and Japan strengthens the country’s position as a premier hub for American businesses, particularly in high-value industries such as semiconductors, renewable energy, power grids, telecommunications, data centers and cybersecurity.
The roundtable was led by US ABC senior vice president for policy Marc Mealy and moderated by senior director Lilibeth Almonte-Arbez.
Among the American companies present were FedEx, Fluor, DGA Group-ASG, Medtronic International Limited, Texas Instruments, Visa, PepsiCo Services Asia Ltd, Asia Group, The Vriens & Partners, Chevron, Varian Medical Systems, Boeing, Citi, Lockheed Martin, SAP, Google, UPS and Procter & Gamble.
