‘Powerhouse’ US trade mission coming to Manila

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Trade and business leaders in the Philippines are preparing investment pitches ahead of the arrival of a “powerhouse” American trade mission to Manila this week.

With a lot of “heavyweights” visiting Manila, it is a good chance for Philippine leaders to pitch various investment options, officials said.

The Philippine Embassy in Washington, D.C., said in a statement that a “powerhouse” American trade mission—composed of representatives from Citigroup, Chevron, Coca Cola, General Electric, JP Morgan Chase, Procter & Gamble, Peregrine Development International, CV Starr & Co., the US Education Finance Group, McLarty & Associates, Federal Express and Spence & Co.—was visiting Manila from Jan. 23 to 25 to promote greater trade and investment between the United States and the Philippines.

Trade Secretary Gregory Domingo said in a text message that the visit of the trade mission was facilitated by the US-Philippine Society (co-chaired by businessman Manuel V. Pangilinan) and Philippine Ambassador to the US Jose L. Cuisia Jr. on the Philippine side.

“The Apec business advisory council has been here since this weekend. Lots of heavyweights,” Domingo said.

Outgoing Trade Undersecretary Cristino Panlilio, who is in charge of trade promotion, said that among the scheduled activities of the trade mission included a visit to the Center for International Trade Expositions and Missions (Citem) pavilion in Pasay City. “We will ‘sell’ investments in all major sectors of the Investment Promotions Plan,” Panlilio said in a text message.

The Philippines aims to generate some P400 billion in investment commitments this year from P360 billion in 2012.

The US-Philippines Society is a non-profit independent organization that seeks to raise the profile of the Philippines in the US. The Society, which was formally established during the visit to Washington last year of President Aquino, is co-chaired by former US Ambassador to the Philippines John Negroponte.

“The delegation will participate in a dynamic program aimed at strengthening ties with political and business leaders, fostering discussion of strategic issues, and promoting business and investment opportunities,” said Cuisia in a statement.

Cuisia said the delegation will call on President Aquino and Supreme Court Chief Justice Maria Lourdes Sereno and participate in a policy forum with Foreign Affairs Secretary Albert del Rosario, Defense Secretary Voltaire Gazmin, Finance Secretary Cesar Purisima and Domingo.

The program also includes a meeting with US Ambassador to the Philippines Harry Thomas Jr.; a dialogue with business leaders organized by the Makati Business Club; and  visits to the Global Gateway Logistics City at the Clark Freeport in Pampanga and the Asian Institute of Management.

The Policy Forum will also feature Ambassador Negroponte and two other former ambassadors to Manila—Thomas Hubbard and Richard Murphy—who will discuss the strategic environment in the region and the outlook for policy directions as the second term of President Barack Obama begins in Washington, Cuisia said.

Cuisia said the delegation would also attend the second regular meeting of the Board of Directors, composed of civic and business leaders from the US and the Philippines.

The other members of the board, aside from Pangilinan and Negroponte,  are Washington Z. Sycip and Maurice Greenberg, honorary co-chairs; Cuisia, ex-officio board member; Ambassador John Maisto, president; Ambassador Hank Hendrickson, executive director; and lawyer Leo Canseco, legal counsel.

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  • mynnyx

    sana dumami na ang trabaho sa atin kawawa naman ang mga pinoy basta huwag lang pasukan ng mga makakaliwa……..para di sila umalis………….

  • http://www.facebook.com/profile.php?id=100001379226436 Tom Santos

    I hope businesses expand to the provinces to decongest the city and give opportunities to the competetitive folks on the countryside.

  • http://pulse.yahoo.com/_5UOZM4PWIDKO7G64HL3PPMXUTM Constantine

    We need more foreign direct investments and hopefully these foreign investors will bring in their manufacturing plants here! This will create a more sustainable economic growth!

  • rodben

     condominium and hotel business I guess does not provide permanent skilled high paying job, why they don’t bring back again those multinational factories from 70’s here in Pinas like Abbot, Colgate palmolive Proctor and gamble, White wishtinghouse, GE, Levis, among others these are providing a high paying jobs?

    • tskpinas

      Price of doing business in the Philippines, and exorbitant price of electricity.

    • joshmale2004

      I didn’t read condominium and hotel companies among the delegations mentioned. They are actually mostly manufacturing and service providers.

  • Pitbulldog

    Trade missions coming over from an almost bankrupt country should make the Filipino businessmen wary and cautious.  What is their intent?  To look for buyers and clients for their business or to set-up businesses in the country?  The latter would be good, that would mean more jobs and opportunities for the jobless Filipinos, otherwise, it is just a usual imperialist US vice – to gain more from other countries that would benefit their companies.  Nowadays, America is in a tight economic slide and fiscal difficulties, what with trillions of dollars in debt.  Whatever they do outside of their turf is always suspect.  Let them rot, nobody cares, but to brings us down along with them, they should go to hell by themselves.

  • Flashy_Harry

    don’t be overly impressed by americans coming to town; they only want to make money and they will do that by exploiting as much as possible, they dont give something for nothing…also whatever happened to the promised investments that noynoy supposedly achieved when he visited usa last year? wheres the new factories?

    • http://profiles.yahoo.com/u/LSC6LC55H5VT4O7223VVC7XD7A Maurice

      Investors are no saints. They invest money to make MORE money. That makes a good investor, no matter if they are Americans, Germans, Japanese or South Koreans.
      Making money is not a bad thing. We should just make sure that it is a win-win situation for everybody. At least they will provide JOBS to Filipinos and pay taxes.

    • joshmale2004

      Get a grip. Whoever wants to put up business especially overseas with no intention of making money? When they hire Filipinos within the Philippines to work for them, that’s not exploitation. Should be a win win scenario where you work and you get paid. Bottomline, more local jobs will be created.

  • lolo_Jose

    Sayang ala na sa PDI si Berto para ipagsigawan na alang asenso ang Pinas sa
    gobyernong Aquino. Ang matabil niyang dila ay walang kapara…

  • http://pulse.yahoo.com/_AYITA5V33GYZSLC3G37UCVNTKA Ben

    I am particularly interested in General electric and chevron investments. General electric has a high technology business and can given us powerhouse technology that can uplift the nation`s scientfic awareness.

    GE participates in a wide variety of markets including the generation, transmission and distribution of electricity (e.g. nuclear, gas and solar),lighting, industrial automation, medical imaging equipment, motors, railway locomotives, aircraft jet engine, and aviation services. GE also investing in clean technology research and development. Development of smart grid, participating in educational linitiatives, infrastructures, finances etc. GE alone can revolutionize the industrial make up of the Philippines, Chevron can be a partner in developing our oil fields especially in the Reed banks…since it is a US company it is protected from attack or intereference by a third party and protected by the MDT. Of course other companies can bring in more capital and technology in the country and may even capitalize in our students skills…..

  • Lakan Dupil

    May masasabi kaya rito si Rigoberto Tiglao?

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