Business and Economy
Group cites new growth areas for PH, US tie-ups
MANILA — The United States-Philippines Society (USPS) cited new growth areas for Filipino and American companies to explore to further strengthen economic ties between the two countries.
In a press conference Tuesday, USPS co-chairs Manuel Pangilinan and John Negroponte urged Filipino and American firms to partner in areas of telecommunication construction, energy, agriculture, and airplane parts.
Pangilinan said that engaging with US telco companies exposes his business to latest technologies, which the company can adopt here.
Pangilinan owns the country’s largest telco firm PLDT.
He added that US firms, on the other hand, can partner with Filipino companies and participate with the Build Build Build Program of the Duterte administration.
“I think we need to promote better visibility of those US companies here in respect of the Build Build Build Program of the President,” said Pangilinan.
The USPS still considers the business process outsourcing (BPO) industry as a sector where Filipino and US companies will maintain partnership, but the country is urged to move up the value chain by offering high-technology services and specialized knowledge with the trend of artificial intelligence and big data analytics.
The USPS also held US-Philippines Investment Forum along with the Makati Business Club, Philippine-United States Business Council, and American Chamber of Commerce of the Philippines, wherein Filipino and American businessmen tackled the tax reform legislations of the two countries and their implications to two-way investment.
The USPS delegation likewise met government officials, including Finance Secretary Carlos Dominguez III, Socioeconomic Planning Secretary Ernesto Pernia, Budget Secretary Benjamin Diokno, and Trade Secretary Ramon Lopez.
The delegation is meeting President Rodrigo Duterte Tuesday.
“The fundamental message to the President is we believe relationship between the Philippines and US is alive and well,” Negroponte said, noting the two countries’ long history of friendship.
The USPS was launched in 2012 to promote strengthening of Philippine-US relationship as well as raising awareness of the programs on business, governance, culture, shared history, education, strategic issues, and conflict resolution.
