Daily TribuneSome 25 American businessmen will visit the Philippines 6 to 10 July to meet with local counterparts and check out investment opportunities. The delegation’s business trip is being organized by the Philippine Trade and Investment Center in New York and the Philippine Consulates General in New York and Chicago.
A total of 25 American investors and business executives are set to arrive in Manila this month to look for new business, tourism, and investment opportunities, the Department of Trade and Industry (DTI) said.
In a statement, the DTI said the main goal of the trip, set 6 to 10 July is to create stronger economic ties and encourage more US companies to invest in the country’s growing economy.
Major U.S. investment firms
The delegation includes leaders from major US investment firms from across the Northeast, Midwest and other regions.
During the five-day visit, they will meet with Philippine government leaders and local business owners.
The trip comes at a time when the Philippines is actively working to welcome international businesses and establish itself as a key partner for US companies looking to grow in Asia.
Areas to be visited by the business owners and future American investors are Manila, Clark, Subic and Corregidor. The delegation will have business meetings, informational briefings, and tours; they will also be attending a business forum hosted by local banks, business groups, and the American Chamber of Commerce of the Philippines.
Spotlight opportunities
The event will spotlight opportunities in everyday sectors like green energy, banking, phone and internet services, manufacturing, housing, tourism and shipping.
Following the forum, local economic and tourism agencies will host meetings to show what the Philippines has to offer, focusing on the country’s strong digital network and skilled workforce.
The delegation will also tour active development areas managed by local hub authorities in Clark and Subic to see the infrastructure firsthand.
To cap the trip, the visitors will visit Corregidor Island, a historic site that marks the long-standing relationship between the US and the Philippines.
The business trip is being organized by the Philippine Trade and Investment Center in New York and the Philippine Consulates General in New York and Chicago, working alongside public and private business groups in both countries.
U.S. goods trade with the Philippines
The Philippine Statistics Authority stated that US goods trade with the Philippines totals an estimated $41.7 billion annually, with the US importing approximately $27.3 billion in goods from the Philippines, making it the country’s top export destination.
Meanwhile, the US exports about $14.4 billion in goods to the Philippines.
Top US exports to the Philippines are electrical machinery, cereals, aircraft parts, and agricultural goods, while top Philippine exports to the US are semiconductor devices, electronic components, coconut oil, and IT/business services.
The US runs a trade deficit with the Philippines, importing roughly $12.9 billion more than it exports.
