US Commerce Secretary Gina Raimondo brought good news to the Philippines, saying that 22 American companies are investing over $1 billion worth of investments in the country.
Arriving in the country on Monday, March 11, Raimondo met with Philippine President Ferdinand Marcos Jr and the country’s economic team to represent United States President Joe Biden, who wants to strengthen trade relations with the Philippines.
“US companies are interested to invest in Filipinos. Just look at the many American companies that provide employment and professional development for thousands of Filipinos, putting them on a path to higher-paying jobs,” Raimondo, who leads a high-level Presidential Trade and Investment Mission, said in a press briefing.
“On this trip alone, these companies are announcing over a billion dollars of US investments including creating educational opportunities to over 30 million Filipinos,” she said.
She also said that these American companies hope to help small and medium-sized companies to digitize.
Some of these companies reportedly investing in the Philippines are United Airlines, VISA, Microsoft, Mastercard, UPS, FedEx, and Google.
Raimondo also said that many of these companies, especially tech firms, will launch training programs on artificial intelligence, cybersecurity, and more.
Philippine Trade Secretary Alfredo Pascual added that many of the investors have already signed agreements with the country.
“Google for example and other tech companies in the US will be offering our people,” Pascual said. “They’re targeting thousands of Filipinos to be given training and certification in digital competence.”
