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May 23, 2024

2024 Philippines Business Mission Reinforces US Private Sector Commitments in the Philippines

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2024 Philippines Business Mission
May 23, 2024

The US-ASEAN Business Council (US-ABC) held its 2024 Philippines Business Mission in Metro Manila from May 20 to 23. A total of 30 US companies participated in a series of in-person engagements with senior officials from the Philippine government. The mission was co-led by Ambassador Brian McFeeters (ret.), Senior Vice President and Regional Managing Director of US-ABC, and Mr. Stephen Braim, Vice President for Government & Regulatory Affairs, Asia Pacific at IBM and Chair of the US-ABC Philippines Committee. ​
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​This year's business mission, which came on the heels of the recently concluded first-ever Presidential Trade and Investment Mission (PTIM) in Manila last March and the inaugural trilateral leaders' summit involving the US, Japan, and the Philippines in Washington D.C. last April, provided a platform for strengthening the commitments of the US private sector to the Philippines. ​ ​
​"The success of this year's business mission underscores the strong and growing commitments of the US private sector to the Philippines and the region” said Ambassador Brian McFeeters. “US investments in the Philippines play a pivotal role in the country's development by driving economic growth, creating jobs, and fostering innovation” he added. ​ ​
​The delegation was first welcomed by Secretary Frederick Go, Special Assistant to the President for Investment and Economic Affairs and went on to meet with senior officials from key government agencies including the Senate, the Department of Budget and Management (DBM), the Department of Information and Communications Technology (DICT), the Department of Finance (DOF), the Bangko Sentral ng Pilipinas (BSP), the Department of Science and Technology (DOST), the Department of Energy (DOE), the Department of Environment and Natural Resources (DENR), the Department of Transportation (DOTr), the Department of Agriculture (DA), the Department of Trade and Industry (DTI), and the Department of National Defense (DND). In a reception co-hosted by the U.S. Embassy in Manila, US-ABC had the opportunity to celebrate its 40th anniversary with the delegates, the business community, and senior government officials, including Assistant Secretary Daniel Kritenbrink. ​
​Alongside the business mission, the delegation also had the opportunity to participate in the USTDA-led 6th Indo-Pacific Business Forum (IPBF) on May 21, which brought together leaders from businesses and government for increased cooperation in the region. At the IPBF, the Council led a panel session on “Private Sector Perspectives on the Outlook for Growth in the Indo-Pacific Region”. The session explored regional growth trends, opportunities, and challenges for the ICT, energy, and food sectors. ​ ​
​In the course of the 4-day business mission, the delegation committed to working closely with the Philippine government on a wide range of key sectors from digital transformation, sustainability, energy security, and supply chain resilience. The Council welcomed positive statements from the government on economic reform for increased investments. Furthermore, the various discussions during the event emphasized the role of collaborative and sustainable partnerships in promoting Philippine economic expansion. ​
​“IBM looks forward to working closely with the Council and the Philippine government towards strengthening digital infrastructure and skills development for economic growth” said Mr. Stephen Braim. “Digitalization is a cornerstone of growth in the Philippines. By embracing digital technologies, we are unlocking new avenues for innovation and an inclusive economy” he added. ​

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