Tech, BPO investments a win-win for US and PH
WASHINGTON DC, UNITED STATES — The United States is looking forward to tapping new investment opportunities in the Philippines.
Hank Hendrickson, executive director of private sector-led U.S.-Philippines Society, noted that the tech and BPO industries are among America’s biggest contributions to the country. He said that the U.S. is optimistic about the investment climate of the Philippines, and it is looking to explore a new range of industries, including energy and infrastructure.
“The United States’ contribution in the Philippines is the incredible increase in employment and business process operations and IT where there are a million jobs and half a million jobs created. More than 70 per cent of those investments come from North America particularly the U.S.”
The Philippine government is currently promoting the country as an “investment haven” in the Southeast Asian region.
“What we heard from the meetings with President Marcos, his message was very clear. The Philippines’ priority is economic recovery and the Philippines is moving in new directions and he wants the U.S. to be a big part of it,” Hendrickson added.
The government recently hosted an investment forum in the Philippine embassy in Washington DC to encourage American investors to invest in the country.
In an interview with state-run PTV, Aleem Guiapal, deputy director general of the Philippine Economic Zone Authority (PEZA), said that this forum is “in support of President (Bongbong) Marcos’ state visit in the U.S. in September.” During his visit, Marcos spoke to investors underscoring the Philippines’ investor-friendly economic policies.
“We are positioning the Philippines as a regional hub. We are not only promoting our country as an investment destination but a regional hub,” Aleem Guiapal added.
Meanwhile, Jack Madrid, president and CEO of the IT & Business Process Association of the Philippines, Inc. (IBPAP), was also a speaker at the investment forum. He expressed his gratitude to the Philippine government for highlighting the potential of the IT-BPM sector.
“A good day in Washington DC promoting the country as the leading IT-BPM region to U.S. investors. I want to thank Ambassador Romualdez, U.S.-Philippines Society, U.S.-ASEAN Business Council and the Philippine Economic Zone Authority for their support of the BPO industry,” he said in a social media post.
