US companies are scheduled to announce opportunities worth more than US$ 1 billion in the Philippines, according to US Commerce Secretary Gina Raimondo during a Monday ( Mar 11 ) official visit there.
According to her, the opportunities would be in sectors like renewable energy, energy vehicles, and digitalization.
Raimondo is in Manila on behalf of President Joe Biden for a two-day trade and investment goal. Major executives from organizations like GreenFire Energy, Google Asia Pacific, Visa, United Airlines, and KKR are included in her group.
In January, the White House announced a deal quest to boost U.S. companies ‘ contributions to important Philippine sectors, including system, clean power, critical minerals, agriculture, and the innovation economy.
The Philippines and the United States have a long history of joint defense, which is bound by a 73-year-old treaty. Ferdinand Marcos, president of the Philippines, has pushed for financial partnerships to extend beyond just defense assistance.
At a joint briefing with Spanish officials, Raimondo declared,” The US-Presidential alliance is iron clad. It has been around for 72 years, and we have always been staunch associates and, increasingly, companions in prosperity.