PH PROSPECTS STRONG, FOREIGN INVESTORS TOLD

 

By Steve Angeles, ABS-CBN North America Bureau

April 24, 2013

COSTA MESA, Calif.–Some of the top economic leaders from the Philippines are making sales pitches to American companies to bring their business to the Philippines.

Led by Philippine Ambassador to the US Jose Cuisia, Jr. and economist Bernardo Villegas, business leaders kicked off their second  Investment Roadshow, trying to show potential investors that the Philippines offers business opportunities in the technology, agriculture, financial, and construction industries.

“You can see there are tremendous advantages for American businesses to relocate businesses,” said Cuisia, “like the availability of talented employees at very reasonable costs.”

The roadshow comes as the country continues to earn recognition in the international business world.  The Philippines stock market index is above 7,000 points and Fitch Ratings recently promoted the country to an investment grade.

Several international business magazines have also labeled the Philippines as a breakout nation.

“We can talk about the good news but based on very specific data you can see we’re not just mouthing marginal statements,” explained Villegas.

“Corruption rate has been reduced drastically. It’s a very conducive investment environment,” explained Dan Lachica, president of the Semiconductors and Electronics Industries.

With the ongoing improvements, American companies and politicians and are also warming up to the idea of investing in the Philippines.

Representatives from tech company Western Digital said they’ve been doing manufacturing in the Philippines for the past couple years and are so far happy with the results.

The roadshow will hit Chicago and would wrap up in Boston at the end of this week, where the delegation will be joined by Fil-Am tech giant Dado Banatao.

Contact Steve Angeles at steve_angeles@abs-cbn.com for more information.

2 Comments on this post.

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  • av
    25 April 2013 at 7:40 am - Reply

    The Philippines economy has been on the bright side but it barely affects the poor population of the country. Poverty remains the biggest problem nationwide only next to corruption. Investors will continue to flock in the Philippines due to its english proficient young population that are willing to work for a mere $500 or less a month salary.The Philippine economy’s main engine are the OFW’s and NGO’s. Without the downpour of monies from these two contributors, Philippines would be just as bad as any other third-world country.

  • kikayPang0
    25 April 2013 at 4:46 pm - Reply

    Cuisia and Villegas is just like your average slick talker used car salesman from your neighborhood ,…. they’re trying to convince people using a sales pitch method to sell a lemon car. .

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