The Biden administration is perceived not interested in forging bilateral free trade agreement (FTA) with the Philippines, which was pushed during the Trump administration, but the United States has vowed that bilateral economic relations remained strong even as it offered assistance for additional
MANILA, PHILIPPINES The Philippines expressed confidence that bilateral relations with the United States will go further as the world is begins to recover from the Covid-19 pandemic, Trade Secretary Ramon Lopez said during the virtual Philippines-United States Business Dialogue.
“We are confident that these continuing conversations will further strengthen ties between our two nations, which is needed as we all need to work together to support the world’s post-pandemic recovery,” Secretary Lopez said during the dialogue organized by the Philippine Trade and Investment Centers in the United States and the Board of Investments, in line with the celebration of the 75 years of Philippines-United States relations with the theme: “Cooperation for Post-Pandemic Recovery”. In his welcome remarks, Philippine Ambassador to the US Jose Manuel Romualdez emphasized that “This dialogue is a follow-up to our virtual economic briefing in April and is part of our continuing efforts to c
Published June 23, 2021, 7:00 AM
There has been strong interest from American firms to invest in the Philippines from manufacturing, infrastructure and services, according to the top official of the Board of Investments (BOI).
At the virtual Philippines-US Make It Happen In the Philippines Business Dialogue, BOI Managing Head Ceferino S. Rodolfo said they received lots of interest from American firms following the passage of the CREATE Law after two years of waiting. The CREATE Law is seen as a game changer in the race to attract foreign direct investments because of its competitive tax and fiscal incentives regime.
“It’s well worth the wait. In terms of private sector interest from US companies, we have seen strong interest,” said Rodolfo adding “There’s been strong interest from American companies from a range of manufacturing, all the way to infrastructure and services.”