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Manila Bulletin devider Philippines devider National devider A presidential invite to US firms: Join 'Build, Better, More' high-impact projects

A presidential invite to US firms: Join 'Build, Better, More' high-impact projects

Published Mar 11, 2024 07:39 am

Citing the Philippines’ strategic location in Southeast Asia, President Marcos on Monday, March 11, invited American firms to invest in his government’s flagship "Build, Better, More" P8-trillion high-impact projects.

 

Marcos_Raimondo.jpg
United States Secretary of Commerce Gina Raimondo meets with President Ferdinand ‘Bongbong’ Marcos Jr. in Malacañang on Monday, March 11, 2024, for a high-level trade and investment mission in the country. (Marianne Bermudez | PPA Pool)

 

Speaking during the call of the US government and its Presidential Trade and Investment Mission (PTIM) delegation in Malacañang, the Chief Executive shared that the development of 198 high-impact priority infrastructure flagship projects (IFPs) will total $148 billion or over P8 trillion.
 

“We eagerly welcome participation by US investors in these transformative initiatives,” Marcos said.
 

These flagship projects include physical connectivity, water resources, agriculture, health, digital connectivity (telecommunications), energy, and critical metals exploration and processing.
 

Noting the Philippines’ strategic location where businesses can thrive, Marcos said investments in the country’s sectors present a multitude of advantages for investors looking to grow and expand.
 

It will also lay the groundwork for the country’s’ aspiration to be the next logistics hub in Asia.
 

The arrival of the US trade and investment mission in Manila marks the fulfillment of US President Joe Biden’s commitment to Marcos during his visit to Washington, D.C. in May 2023.
 

Then, Biden pledged to send a high-level presidential delegation to the Philippines to enhance investment and trade relations between the two countries. 

 

Among the participating US firms, according to the White House, are Apl.de.Ap Foundation International, FedEx, Mastercard, Microsoft Corp.,Visa Inc., Google Asia Pacific, United Parcel Service (UPS), Black & Veatch Corp., President’s Export Council, EchoStar/DISH, InnovationForce, and United Airlines.

 

Also included are GreenFire Energy, Inc., Boston Consulting Group, KKR, Marquis, Sol-Go, Capital One Philippines,  U.S.-ASEAN Business Council, Bechtel, UltraPass ID, and  Ultra Safe Nuclear Corp.

 

Last year, the US ranked as the Philippines’s third trading partner, first export market, and fifth import source out of 230 other partners.

Related Tags

Gina Raimondo United States President Marcos Trade mission
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