PBBM, says U.S trade mission an opportunity for PH to show diverse investment opportunities
PBBM, says U.S trade mission an opportunity for PH to show diverse investment opportunities
Category
🗞
NewsTranscript
00:00 Having a time-tested ally like the U.S. is an advantage the Philippines has over its Asian neighbors.
00:05 Something the president is well aware of and purposely utilizing,
00:09 especially in terms of reeling in more business opportunities through the U.S. trade mission.
00:14 That certainly bodes well for many Filipinos.
00:17 Alan Francisco returns with this report.
00:20 The upcoming first-ever United States trade mission in the Philippines
00:26 is a testament to the strengthening relationship between the two countries.
00:30 This emphasis was made by President Ferdinand R. Marcos, Jr. during a courtesy call at Malacanang
00:36 earlier by U.S. Department of Commerce Secretary Gina Raimundo along with the delegates of the
00:42 Presidential Trade and Investment Mission. According to President Marcos, such trade
00:47 mission provides an excellent opportunity for the Philippines to showcase its diverse
00:53 investment opportunities. Today's gathering not only signifies a meeting of officials,
00:58 but also celebrates the enduring relations between the Philippines and the United States.
01:06 Ties that have been built on shared sacrifices, mutual support, and unwavering respect.
01:16 The announcement of the Presidential Trade and Investment Mission to the country
01:20 was made during a bilateral meeting between President Marcos and U.S. President Joe Biden
01:25 in May 2023.
01:27 Please be assured that the Philippine government is committed to supporting your activities in
01:33 the country and the Department of Trade and Industry will act as your ally, ensuring that
01:40 you navigate the Philippine business landscape with ease and efficiency and speed. I have
01:48 emphasized this before and I'll say it again. The United States is an essential strategic
01:55 trading and investment ally for the Philippines. In the coming months, I hope that we will be
02:02 able to see our shared commitments come to fruition, driving robust economic growth,
02:07 because after all, an economically strong Philippines is a formidable ally. Together,
02:14 let's make it happen in the Philippines.
02:16 Amidst global challenges, President Marcos expressed confidence that the Philippines
02:22 will emerge strong following its positive performance in 2023.
02:26 The performance in 2023 not only surpassed our neighbors but also either exceeded or aligned
02:34 with the projections of esteemed multilateral organizations and private analysts such as the
02:41 IMF and the ASEAN Plus Three Macroeconomic Research Office, the World Bank as well.
02:48 In the same meeting, the President also revealed that the Philippines would co-host
02:53 the 6th Indo-Pacific Business Forum with the United States in May this year.
02:58 The Chief Executive invited American companies to participate in the Build Better More program
03:03 of the Administration.
03:05 Through the Build Better More program, we aim to launch 198 high-impact priority
03:12 infrastructure flagship projects, totaling US$148 billion. We eagerly welcome participation
03:21 by US investors in these transformative initiatives.
03:25 President Marcos also urged American investors to channel their funds into the energy sector
03:31 and the critical metals exploration. He mentioned the Philippines aims to produce
03:36 semiconductor professionals by 2028 with the assistance of the United States.
03:41 The President emphasized how the US is an essential strategic trading
03:46 and investment ally of the Philippines.
03:48 Meanwhile, Trade and Industry Secretary Alfredo Pascual also expressed confidence
03:53 that the discussions today will result in actionable or executable measures.
03:59 According to the Secretary, the mission goes beyond traditional diplomatic missions,
04:04 focusing on building stronger economic ties.
04:06 US Secretary of Commerce Gina Raimundo, on the other hand, expressed her support for the
04:12 leadership of President Marcos, praising the economic development of the Philippines
04:17 under his leadership.
04:18 Thank you to President Marcos and the Filipino team. I want to say thank you.
04:24 Thank you for the steps you are taking to transform your economy, to make it easier to do
04:30 business here, and to move forward to a clean economy and clean energy economy.
04:37 Fired up and ready to go to deepen our economic relationship with your leadership, President.
04:45 I think, as I said to you in the last meeting, we've done so much together and the best is yet to come.
04:50 Alan Francisco from the National TV Network for a new and better Republic.