U.S. investments in PH reach P402.8Bn
MANILA, PHILIPPINES — A total of P402.8 billion (US$7.29 billion) in investments were recorded from 363 American companies operating in the Philippines, said Philippine Economic Zone Authority (PEZA).
According to the agency’s data, these investments contributed $7.73 billion to the Philippines’ annual exports and employed 367,049 individuals in economic zones.
The top export products of American companies in the Philippines include call centers and Business Process Outsourcing (BPO) services, uninterruptible power sources (UPS), tobacco, semiconductors, integrated circuits, soap and cleaning products, solar energy, and printing products.
Meanwhile, the key industries that the United States (U.S.) remains keen on investing in are call centers, BPOs, software development, radio, television and communication; equipment and apparatus engineering; architectural and other design services.
Electrical machinery and apparatus, National Electrical Code (N.E.C.); data encoding; transcribing and related services; multimedia graphics; animation, printing and other services; warehousing and storage; and real estate activities are also part of the list.
In 2021, the U.S. was the Philippines’ 5th largest country supplier, accounting for a 6.6% share of the country’s imports. It was also the largest export market of the Philippines during the same year, with a 15.9% share of total export value.
