U.S.-ASEAN BUSINESS COUNCIL VOWS TO BRING MORE INVESTMENTS TO PHL

By Samuel P. Medenilla @sam_medenilla

AMERICAN companies are now open to making more investments in the Philippines due to the country’s “transparent predictable business environment” in accordance with the IndoPacific Economic Framework (IPEF).

We are determined that we come here not just to talk but also to bring a lot of action to create real partnerships and to show our commitment in the form of investments.” USAsean Business Council president and CEO Ted Osius said during his courtesy call with President Ferdinand R. Marcos Jr. in Malacañang on Wednesday.

The retired US ambassador lauded the country’s leadership in implementing Pillar 3 of the IPEF on the use of clean energy, decarbonization, and infrastructure and as well as its compliance to the initiative’s Pillar 4 on tax and anti-corruption measures. IPEF is an initiative launched last year by US President Joe Biden, which aims to implement high economic standards for its member countries.

Osius said US companies are ready to support the goals set by President Ferdinand R. Marcos Jr. in his second State of the Nation Address (SONA) on infrastructure, agriculture, clean energy, green metals and semiconductors.

We look forward to deepening our engagements with your government and to create more partnerships with companies here in the Philippines,” Osius said.

Greater economic engagement

PRESIDENT Marcos welcomed the US commitment, which he said would be beneficial for both the Philippine and the US economy.

“I invite the members of the esteemed Council to continue being valuable partners of the Philippines. Let us push for greater economic engagement between our two countries, for our mutual benefit, for the prosperity, especially of the region,” the Chief Executive said.