THE GOVERNMENT is looking to engage American companies in investment opportunities in technology, renewable energy (RE), and medicine, and position the Philippines as the next growth market in Asia.
“If you’re looking for your next growth market in Asia, look to the Philippines,” Treasury Secretary Frederick D. Go said in a statement.
During a recent roundtable with US companies in Washington, DC, Mr. Go said the Philippines’ key industries are ready for immediate investment.
These include semiconductors and electronics, mineral processing, pharmaceuticals and medical devices, food and agriculture, steel, renewable energy, infrastructure, and tourism.
He also noted potential opportunities in electric vehicles (EVs) and shipbuilding, citing recent plans by Mitsubishi Motors Corp. to develop a hybrid EV manufacturing facility in the Philippines.
Mr. Go noted that the Philippines is seeking long-term investment in these key industries.
“These strategic investment pillars represent both growth and stability, and we invite deep cooperation and long-term investment in our key sectors,” he said.
The Treasury Department noted that the roundtable involved the US-ASEAN Business Council and the US Chamber of Commerce.
The Philippines has joined the US Pax Silica program, which aims to connect the global supply chain for all key minerals, semiconductors, advanced manufacturing, transportation, and AI infrastructure.
The Philippine and American governments last week announced the establishment of an AI industrial zone within New Clark City in Tarlac, as both countries seek to increase their participation in the global AI supply chain. – Beatriz Marie D. Cruz
