Marcos Urges US Businessmen to Invest in PH

President Ferdinand “Bongbong” Marcos Jr. urged United States businesses to invest in the Philippines, saying that the country has a resilient economy.

This comes as Marcos spoke with US business leaders during the New York Stock Exchange Business Forum, boasting about the confidence he has in the future of the Philippines.

“Despite external headwinds, the Philippine economy’s resilience — reinforced by sound policies and decisive leadership — makes us confident about our future,” Marcos said.

Marcos added that the country seeking partnerships in the areas of public infrastructure, digitalization, and agricultural modernization.

Moreover, he added that the Philippines is offering investments for American businesses in fields such as Information Technology-Business Process Management, medical products and services, electric vehicles and batteries, agribusiness, and telecommunications infrastructure and services.

Marcos also emphasized that the Philippines is a “promising” emerging market, from which US businesses have reaped significant benefits and that the US has been a “steady partner.”

“Over the past few decades, as the Philippines transformed into one of the most promising emerging markets, the United States has been among our steady partners. For that, we are truly grateful. At the same time, American companies doing business in the Philippines have benefited significantly from our economic successes,” Marcos said.

The US is the third largest trading partner of the Philippines and the second major source of foreign direct investment applications in 2021, Marcos added.

Marcos is on a six-day working visit to the US from September 18 to 24, which will include an address before the United Nations General Assembly (UNGA).

According to the Philippine Consulate in New York, Marcos will be the first Southeast Asian leader to speak during the UNGA and will be the first Filipino to speak at the podium since 2014.

Meanwhile, the Department of Foreign Affairs also confirmed that there are ongoing discussions for bilateral meetings with other heads of state, which includes US president Joe Biden. (GFB)