US-PH relations bring in real investments

House National Security Advisor Jake Sullivan as our guest of honor.

WE celebrated the 125th year of Philippine Independence in Washington, D.C. with a record crowd composed of business people, colleagues from the diplomatic circle, members of the FilipinoAmerican community and officials from the U.S. government, with White

The upbeat atmosphere reflected the vibrant and dynamic relationship between the Philippines and the United States which, if I may say so, is at the best it’s ever been. While relations with our close and only defense ally have been at times complicated, the ties that bind our two nations have remained solid over the decades.

As President Ferdinand Marcos Jr. accurately stated – our relationship with the United States is an evolving one that will continue to strengthen through more robust economic and peopleto-people ties. There is no doubt the deepening bilateral ties between the U.S. and the Philippines as well as our good relations with likeminded nations have put us under the radar of American companies that now see the Philippines as a safe investment choice.

Less than a year into President Marcos Jr.’s presidency, investments coming from the United States have been surging. Of the over $5 billion in pledges from U.S. firms engaged in a wide range of businesses, $2 billion in actual investments have been confirmed by our DTI.

In August 2022, President Biden signed the Creating Helpful Incentives to Produce Semiconductors and Science

(CHIPS) Act to diversify the source of semiconductor wafers which the Philippines imports for the assembly, testing and packaging of chips. The CHIPS Act also created the International Technology Security and Innovation Fund that provides the State Department with a separate funding of $500 million ($100 million a year for five years starting in Fiscal Year 2023) “to promote the development and adoption of secure and trustworthy telecommunications networks and ensure semiconductor supply chain security and diversification.”

We were informed by the State Department that the Philippines is among the countries that have been identified by the U.S. with which they want to partner in the semiconductor supply chain.

Companies that have been in the Philippines for many years are also gearing up reserves the right to refuse to publish, in its sole and absolute discretion, any advertising and advertorial material submitted for publication by client. (“Client’s Material”) Submission of an advertisement or advertorial to an AJPI sales representative does not constitute a commitment by AJPI to publish a Client’s Material. AJPI has the option to correctly classify any Client’s Material and to delete objectionable words or phrases.

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