ASEAN | US-ASEAN business council commits to forge more partnerships with Philippines-PH
American businesses have expressed intention to create more partnerships with companies in the Philippines as they see the country as an “incredible partner” in ASEAN.
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The United States-Association of Southeast Asian Nations (US-ASEAN) Business Council, the largest US-ASEAN business contingent, made a courtesy call to President Ferdinand “Bongbong” Marcos Jr. on Wednesday, Aug. 9, where they committed more investments in the country.
“We look forward to deepening our engagements with your government and to create more partnerships with companies here in the Philippines,” US-ASEAN Business Council President and CEO Ted Osius told Marcos.
Osius said they are “very much focused” and determined to forge partnerships in the country as the President highlighted sustainable development, transformative digitalization, innovative healthcare solutions, supply chain resilience, and ease of doing business during their meeting.
Memento Maxima Digital Marketing“We are determined that we come here not just to talk but also bring a lot of action to create real partnerships and to show our commitment in the form of investments,” Osius said.
He also raised the importance of the country’s participation in the Indo-Pacific Economic Framework, as well as in the Asia Pacific Economic Cooperation (APEC), stressing that the Philippines has been an “incredible partner in this process.”
“The view in Washington is the Philippines has been an incredible partner in this process, especially the supply chain. [The] Indo-Pacific Economic Framework and the US is looking for continued Philippine leadership on Pillar 3 which is focused on clean energy, decarbonization, and infrastructure, and Pillar 4, tax and any corruption,” Osius said.
The visiting US official was with representatives of 30 companies, the largest delegation to visit the Philippines in the 40-year history of US-ASEAN Business Council.
Osius said their visit is a testament to the interest of organization members in the strong growth, the sustainable approach that the Marcos administration is taking to the economy, the stable macroeconomic fundamentals, the country’s young and competent workforce, and government’s receptiveness to foreign investments.
Since 1984, the US-ASEAN Business Council has been the premier advocacy organization for US corporations operating within the dynamic ASEAN.
Worldwide, the Council’s membership of more than 170 companies generates almost $7 trillion in revenue and employs more than 14.5 million people.
The Council is the only American organization formally recognized in the ASEAN Charter and meets annually with the Finance, Trade, and Energy Ministers at their annual meetings.
Today its members include the largest US companies conducting business in ASEAN, and range from newcomers to the region to companies that have been working in Southeast Asia for more than 100 years.
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