PHL pitches US investors on pharma, RE tieups

THE GOVERNMENT is looking to pitch US companies on investment opportunities in electronics, renewable energy (RE), and pharmaceuticals, positioning the Philippines as the next Asian growth market.

“If you are looking for your next growth market in Asia, look at the Philippines,” Finance Secretary Frederick D. Go said in a statement.

During a recent roundtable with US companies in Washington, DC, Mr. Go said key Philippine industries are ready for immediate investment.

These include semiconductors and electronics, mineral processing, pharmaceuticals and medical devices, food and agriculture, steel, renewable energy, infrastructure, and tourism.

He also noted potential opportunities in electric vehicles (EVs) and shipbuilding, citing recent plans of Mitsubishi Motors Corp. to develop a hybrid EV manufacturing facility in the Philippines.

Mr. Go noted that the Philippines is seeking long-term investments in these key industries.

“These strategic investment pillars represent both growth and stability, and we are inviting deeper cooperation and long-term investment in our priority sectors,” he said.

The Department of Finance noted that the roundtable involved the US-ASEAN Business Council and the US Chamber of Commerce.

The Philippines has joined the US Pax Silica initiative, which seeks to link the global supply chain across critical minerals, semiconductors, advanced manufacturing, transportation logistics, and AI infrastructure.

The Philippine and US governments last week announced the establishment of an AI-native industrial hub within New Clark City in Tarlac, with both countries seek to increase their participation in the AI global supply chain. — Beatriz Marie D. Cruz