Embassy of the Philippines > Embassy of the Philippines DC >> News

News

30/04/2013: US, Filam Investors Express Strong Interest in PH

PRESS RELEASE
WDC-041-2013
30 April 2013

WASHINGTON, D.C. — Buoyed by the strong interest expressed by American and Filipino-American investors in pouring their money in the Philippines, the Philippine Embassy said today it is seriously considering plans to hold another investment roadshow in the United States next year.

In a statement, Ambassador Jose L. Cuisia, Jr. said the plan to hold the 3rd Philippine Investment Roadshow was prompted by the success of the 2nd Philippine Investment Roadshow that was held in Los Angeles, Chicago and Boston from 22 to 26 April.

“The 2nd Investment Roadshow was a great success gauging not only from the turnout of American corporate and government executives but also the strong interest they expressed in investing in the Philippines,” Ambassador Cuisia said.

“As a matter of fact, this roadshow is more successful than the first one we held in 2012,” he further said, noting that the more than 300 participants who joined the three-city investment seminars represented an increase of 31 percent compared to the first roadshow.

Ambassador Cuisia said the 3rd Philippine Investment Roadshow would be held in Houston, Atlanta and Philadelphia sometime between April and May next year.

“We would like to do it this time in Houston, because it is the oil capital of the US; Atlanta because of its trade relations with ASEAN; and Philadelphia because of the presence of many young Filipino-American professionals,” said Ambassador Cuisia who was the moving force behind the two investment roadshows.

Ambassador Cuisia said he expects next year’s roadshow to be participated in by leading corporate executives representing the following sectors: infrastructure (energy, water and highways); business process outsourcing and information technology; mining; financial services; electronics and electronic devices; and pharmaceutical and biotechnology.

Prominent Filipino economist Dr. Bernardo Villegas, who helped Ambassador Cuisia organize the roadshow and led the business delegation from Manila, has indicated his willingness to support next year’s roadshow.

Consul General Mario De Leon of the Philippine Consulate General in New York said the attendance of a number of senior American corporate executives at the Boston leg of the roadshow indicates the high interest of US companies on the Philippines.

“All the participants were pleased with the presentations of the Philippines’ captains of industries. Now that they know more about the many business opportunities in our country, I am optimistic that the roadshow will lead to increased business transactions between Philippine and American companies particularly in the US Northeast,” Consul General De Leon said.

For his part, Consul General Leo Herrera-Lim of the Philippine Consulate General in Chicago said: “No one remembers the last time there was a trade and investment roadshow of this kind in the US Midwest.  This   one certainly showed why outsourcing, mining, infrastructure and finance are hot sectors in our region.  Now, everybody wants to be in the game."

"A week after the trade and investment seminar, we continue to hear participants rave about the presentations and the Philippine performance.  Everyone is looking forward not only to the next seminar but to their next trip to the Philippines!" Consul General Herrera-Lim said.

Consul General Hellen Barber-De La Vega of the Philippine Consulate General in Los Angeles said that in her jurisdiction, the Filipino-American Chambers of Commerce has pledged to build on the success of the investment roadshow when it holds its annual summit from 8 to 10 November this year.

“This demonstrates the confidence in the Philippines as the new rising tiger of Asia,” she said.

According to Ambassador Cuisia, the feedback and comments received from potential American investors, business executives, members of the Filipino-American Community and other participants on the investment roadshow were very positive.

“The described the presentations as comprehensive, engaging, impressive and inspiring, particularly Dr. Villegas’s very good macroeconomic presentation where he explained why he believed that the Philippines will enjoy sustained and inclusive growth over the next 10 to 20 years,” the envoy said.

Rainerio Borja, President of Expert Global Solutions-Philippines and a member of the business delegation, also said that “the roadshow is one of the best” he has participated in.

Ambassador Cuisia said last week’s roadshow, which was organized in cooperation with the Philippine Consulates General in Los Angeles, Chicago and New York, would not have been possible without the participation of a topnotch business delegation from Manila.

The delegation includes Benjamin Philip Romualdez, President of the Chamber of Mines of the Philippines; Isidro Consunji, President of DMCI Holdings; Roberto Dispo, President of First Metro Investment Corp.; Rainerio Borja, President and Country Head of EGS Philippines; Dan Lachica, President of the Semiconductor and Electronics Industries in the Philippines, Inc. and Jesus Zulueta, Jr., Chairman of ZMG Ward Howell.###

PHOTO RELEASE
WDC-072-2013
30 April 2013

Dr. Bernardo Villegas, head of the Business Delegation, talks about the ASEAN Economic Community after the keynote speech of the Ambassador at the Chicago Council on Global Affairs Forum on 25 April 2013.

PHOTO RELEASE
WDC-073-2013
30 April 2013

Philippine Ambassador to the US Jose L. Cuisia, Jr. strongly encourages American companies to invest more in the Philippines because of the country’s strategic location, highly educated bilingual and talented work force, its democratic system, a business-friendly environment and attractive tax incentives for key projects, and being part of a larger market-ASEAN which promises a large consumer base of 600 million with strong purchasing power.

PHOTO RELEASE
WDC-074-2013
30 April 2013

ZMG Ward Howell Chairman Jesus “Gigi” Zulueta, Jr. underscores the advantages of Filipino talent which are in the areas of “education; adaptability, multicultural exposure; language; low cost; and good labor-employer relations.”

PHOTO RELEASE
WDC-075-2013
30 April 2013

Mr. Philip Romualdez, President of the Chamber of Mines of the Philippines, emphasizes that “2% additional GDP growth will come from the Mining sector alone,” confirming the strategic importance of the industry which is estimated to be the 5th richest mineral resource in the world.

PHOTO RELEASE
WDC-076-2013
30 April 2013

Mr. Isidro “Sid” Consunji, President of DMCI Holdings, Inc., confirms that growth in both the revenues and net income of listed real estate companies in the country has consistently been in an upward trend since 2008.

PHOTO RELEASE
WDC-077-2013
30 April 2013

Mr. Roberto “Jojo” Dispo, President of the First Metro Investment Corporation, states that the Philippines is the first ASEAN country to comply with the Basel III capital formation reform” under the Bank for International Settlements (BIS).

PHOTO RELEASE
WDC-078-2013
30 April 2013

Mr. Martin Pascual, Board Director of Pascual Laboratories, stresses that continued improvements in the country’s Intellectual Property Rights (IPRs) regime will bolster growth prospects of the pharmaceutical and biotech industry.

PHOTO RELEASE
WDC-079-2013
30 April 2013

Mr. Rainerio “Bong” Borja, President of Expert Global Solutions (EGS), states that the Philippine BPO sector "will be a $25 billion industry by 2016, directly employing 1.6 million Filipinos, and accounting for 7.8% of GDP.”

PHOTO RELEASE
WDC-080-2013
30 April 2013

Dr. Dan Lachica, President of Semiconductors and Electronics Industries in the Philippines, Inc. (SEIPI) confirms that the Electronics industry is the “driver of the Philippine economy” which makes up 55% of the total Philippine exports and directly employs 258,000 operators, technicians and engineers.

PHOTO RELEASE
WDC-081-2013
30 April 2013

Ambassador Cuisia talks with Rev. Cyrial Mattathanickal of the Filipino Apostolate of Boston who gave the invocation at the Ambassador's meeting with the Filipino American community of New England States held at Harvard University on the night of 26 April.

PHOTO RELEASE
WDC-082-2013
30 April 2013

Ambassador Cuisia relayed to the Filipino American community the positive responses in key American cities, including Boston, on the information shared at the 2nd Philippine Investment Roadshow. He likewise urged them to take on a more active role in promoting investments, tourism and other industries in the Philippines. The Ambassador also cited the critical role played by Filipino American nurses and first-responders during the Boston bombings and expressed relief that all Filipino Americans in Boston are safe.