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NEWS UPDATES Asean Affairs   25 October 2013  

U.S. Companies Look to Expand Investments in the Philippines

(Manila)  A delegation of 13 leading U.S. companies organized by the US-ASEAN Business Council concluded a visit to the Philippines today focused on continuing to build economic ties and support the Philippines’ ongoing economic progress. The mission was led by the Council’s Philippines Committee Chair Philip Vaughn, Head of International Government Relations for Fluor, and Council President Alexander C. Feldman.

“We applaud the steps the Aquino Administration is taking to generate positive economic performance, and we look forward to working together to ensure that the economic expansion will continue,” said Philip Vaughn of Fluor.  “These steps will no doubt lead to greater investment opportunities for U.S. companies in the Philippines.”

“The Philippines is one of the fastest growing economies in the world, and American companies are impressed with macroeconomic reforms that have been executed thus far,” said Alexander Feldman, President of the US-ASEAN Business Council. “The business environment has improved greatly through the leadership of President Aquino and his Administration's focus on key macroeconomic reforms and good governance.  This progress is generating results as  evidenced by the recent promotion of the Philippines to investment grade by Moody’s Investor Service as well as improvements in the world ranking of the Philippines in various surveys by the World Economic Forum, the Heritage Foundation and Transparency International.”

“Many companies on the delegation expressed a desire to expand their investments in the Philippines, which is the best testament to their confidence in the Philippines,” Feldman added. “The Council looks forward to returning to the Philippines in June 2014 with a group of American CEOs to help underscore the seriousness and depth of interest that U.S. business has in this economic success story.”

The delegation met with officials including Speaker of the House of Representatives Feliciano Belmonte, Jr., and seven members of Congress, Secretary of Health Enrique T. Ona, Commissioner of Internal Revenue Kim S. Jacinto-Henares, Bangko Sentral ng Pilipinas Governor Amando M. Tetangco, Jr., Intellectual Property Center Director General Ricardo R. Blancaflor, Undersecretary of Trade and Industry Adrian S. Cristobal, Jr., Undersecretary of Transportation and Communication Rene Limcaoco and Philippine Economic Zone Authority Director General Lilia B. de Lima. The delegation also met with U.S. Charge d’Affaires to the Philippines Brian Goldbeck and Embassy staff, as well as Asian Development Bank President Takehiko Nakao and U.S. Executive Director to the ADB Ambassador Robert M. Orr, Chairman and CEO of Ayala Corp. Jaime Agusto Zobel de Ayala, and leadership of the American Chamber of Commerce of the Philippines.

Companies participating in the delegation included ACE Group, AES, the Coca-Cola Company, FedEx Express, Fluor, Ford Motor Company, GE, JHPIEGO, MasterCard, Microsoft, Motorola Solutions, P&G, and Time Warner.

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This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

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