Due to its potential for growth and development, U.S. businesses are looking to increase commercial and economic ties with the Philippines. Last week, U.S. Secretary of Commerce Penny Pritzker visited the Philippines to meet with President Aquino and other officials.
“We see that there’s a plethora of sectors where U.S. businesses could be more active here in the Philippines,” Ms. Pritzker told The Wall Street Journal, listing infrastructure, telecoms and healthcare as areas in which American businesses could thrive.
The rapid take-off of the Philippine economy has garnered the interest of U.S. investors and politicians alike. Joining Ms. Pritzker were top executives from energy and mining companies Chevron and Rio Tinto, insurer ACE Ltd. and risk management consultant Marsh & Mclennan.
“The Asia-Pacific region will be an engine of global growth over the next decade, which will have profound impact on how and where the world does business. American firms want to be part of this solution, as countries across the region look to support a growing middle class, develop world class infrastructure, unleash sustainable energy and invest in their futures,” Pritzker said during the joint meeting of the American Chamber of Commerce (AmCham), the Makati Business Club and the Management Association of the Philippines in Makati City on Wednesday, June 4th.