PH can withstand Trump’s protectionism

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According to Ramon Lopez, the trade secretary of Philippines, the concern over the anti-outsourcing policies of US President Donald Trump is unnecessary as the trade and investment landscape of Philippines will ride out the lowered investments from American companies. They will continue to attract investors from America because of the following reasons.

• They have good quality human resources and costs
• Ease of access to the Filipino and ASEAN (Association of South East Asian Nations) markets
• They have had many successful BPO operations.
• They provide competitive wages
• US business process outsourcing companies have a strong cultural affinity with the Philippines

American Chamber of Commerce of the Philippines (AmCham) and the Philippine Economic Zone Authority (PEZA) stated that American companies wanted to expand their BPO services, but decided to postpone their investment plans till Trump unveiled his policies.

Sung Kim the US ambassador to the Philippines said that it doesn’t matter what stance Trump might take as the benefits of setting up shop in the Philippines won’t change.

Despite the slump in investments from American business process outsourcing companies, China and Japan were still investing.

With regards to trade, Philippines will continue taking advantage of the Generalized System of Preferences privilege.

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