Executive Secretary Ralph Recto urged American companies to expand their investments in the Philippines while creating jobs, developing Filipino talent, and contributing to shared prosperity between the two countries.

Speaking to American business leaders at the Welcome Reception for the 2026 Philippines Business Mission on Tuesday, Aug. 18, Recto said the Philippines wanted to turn its decades-old alliance with the United States into a stronger economic partnership.

“That is the partnership we want—not just one business mission, but generations of investment, innovation, jobs, and shared prosperity between the Philippines and the United States,” Recto said.

He urged members of the US-ASEAN Business Council (USABC) to “Stay in the Philippines. Expand in the Philippines. And build your future in the Philippines.”

Recto highlighted the Luzon Economic Corridor (LEC), which will link Subic, Clark, Manila, and Batangas as a hub for logistics, manufacturing, connectivity, and innovation, and is expected to generate up to one million jobs.

“This is how we can turn an eight-decade alliance into an economic corridor for the next generation,” he said.

The Executive Secretary also encouraged US companies to invest in electronics and semiconductors, particularly in advanced packaging, integrated circuit design, research and development, supply-chain resilience, front-end semiconductor capabilities, and critical minerals processing.

Recto said the Philippines wanted to move beyond extracting and exporting critical minerals by developing domestic capacity in processing, manufacturing, and innovation.

“We want more factories rising here, critical minerals processed—not just extracted and exported. More electronics proudly made in the Philippines. And more Filipino engineers, technicians, and researchers given the chance to thrive,” he said.

According to Recto, the Pax Silica partnership could enable American companies to bring technology, capital, research, and training to the Philippines, while also urging them to develop operations that create opportunities for Filipino workers and researchers.

“We do not want American companies to simply buy from the Philippines. We want you to bring your technology here. Bring your capital and research here. Train Filipino talent here. And build your next breakthrough here,” he said.

Recto said investor confidence would depend on the country's workforce, costs, regulatory environment, infrastructure, and government efficiency, adding that the administration was pursuing reforms to make investments easier, faster, and more predictable.

“Your confidence cannot be demanded. It must be earned. And that is exactly what we intend to do,” he said.

Among the measures he cited were the CREATE MORE Act, Green Lanes for strategic investments, and the Energy Virtual One-Stop Shop, as well as the opening of additional sectors to foreign participation, including renewable energy and public services such as telecommunications, toll roads, airports, and shipping.

Recto also urged US business leaders to identify regulatory and infrastructure problems affecting their operations, including lengthy permitting processes, regulatory uncertainty, and infrastructure gaps, saying the government was prepared to address them.

“When government becomes the obstacle to growth, government must change—not the ambition, not the investments, and certainly not the opportunity,” he said.

The Philippines Business Mission is an annual engagement organized by the USABC to strengthen US-Philippines economic and business relations, with the council representing more than 180 global corporations operating in ASEAN and other markets.