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Manila Bulletin devider Business devider Trade & Industry devider US trade mission set for November to explore digitalization opportunities in Philippines

US trade mission set for November to explore digitalization opportunities in Philippines

Published Sep 4, 2024 05:16 am

The United States Department of Commerce's International Trade Administration (ITA) will lead a delegation of 12-15 American companies and trade associations to the Philippines in November to explore opportunities in digitalization and modern urban infrastructure.

Dubbed as the Innovative Technologies for Urban Infrastructure Development Mission to the Philippines and Indonesia, it is aimed at fostering collaboration, innovation and sustainable development opportunities for participating US firms and organizations in the digital ecosystems, smart city development and sustainable urban infrastructure sectors of these two "dynamic" Southeast Asian markets.

"The objective of this mission is to advance US national interests by supporting the implementation of ambitious digital transformation agendas that the Philippines and Indonesia are pursuing to develop urban technology infrastructure for the benefit of their communities," the ITA said in a notice.

In the case of the Philippines, the ITA noted that the country is "one of the fastest-growing economies in the ASEAN region, characterized by a large and young population, a growing middle class, upward consumer spending, significant growth in private and public investments, and rising urbanization."

"The Philippines has developed several initiatives to address urbanization issues and undergo digital transformation. For instance, the Philippines' Department of Science and Technology (DOST) has committed an initial budget of about $1.8 million for a project transforming 80 urban communities into smart cities, including through technology adoption. The Department of Information and Communications Technology (DICT) is leading a parallel program to support the growth of digital jobs in the countryside," the ITA added.

To be held on Nov. 12 to 20, this executive-led US trade mission will make two stops in the Philippines.

Delegates will be in Metro Manila on Nov. 12 to 13 to discuss and explore innovative urban infrastructure technologies and urban development strategies with local government representatives.

On Nov. 14, the delegation will visit New Clark City for a briefing with the state-run Bases Conversion and Development Authority (BCDA) and Clark Development Corp. (CDC) on opportunities in the much-touted Luzon Economic Corridor.

To recall, the Philippines, the US and Japan last April launched their plan to jointly develop the Luzon Economic Corridor as the newest—and the first in the Indo-Pacific region—economic corridor of the G7's Partnership for Global Infrastructure and Investment.

The Luzon Economic Corridor will interconnect Clark and Subic Bay, which are former US military bases turned industrial zones, with Manila and Batangas to attract more investments in high-impact infrastructure projects.

Last week, Special Assistant to the President for Investment and Economic Affairs Frederick D. Go said the government was already short-listing less than 10 proposed projects in the Luzon Economic Corridor to focus on and fast-track their roll-out.

For Go, data centers, digitalization, food production, energy, ports and rail infrastructure will likely be the priority sectors.

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