In a presentation at the Philippine Business Forum on US investments in PH hit over P402 B during the CES 2023. A global stage for innovation held in Las Vegas on Friday, Jan. 6, PEZA highlighted the contributions of US investors in the Philippine economy. PEZA OIC Director General Tereso Panga was represented at the forum by PEZA Deputy Director General Aleem Siddiqui M. Guiapal. The Philippine delegation at the CES was led by Trade and Industry Undersecretary for Competitiveness and Innovation Group Rafaelita Aldaba.
US investment in Philippine Economic Zone is now P402.827 billion. From a total of 363 companies mainly engaged in IT and business process management and various manufacturing sectors. Making the US the third largest investor per national invested in the Philippine Economic Zone Authority (PEZA).
In his presentation “Philippines: Your Gateway to Asia-Pacific Regions,” Guiapal reported that the country’s economic zones host a total of 363 US investors employing 367,049 Filipino workers. US pager exports also bring in $7.639 billion annually.
Subscribe to the Ex-works24/7 newsletter
Investors specializing in call centers account for the majority or 34.387 percent of all US pagers in PEZA, while IT services account for 16.94 percent of the total and tourism accounts for 7.09 percent. Others are involved in various manufacturing sectors, mainly semiconductor, integrated circuit, tobacco, solar, energy, 3D printing, and soaps and cleaning products.
Of these companies, the majority or 194 companies are concentrated in the National Capital Region, 74 in the Central Visayas Territories and an additional 66 in the CALABARZON Region. Others are hosted in the Western Visayas, Cordillera Administrative Region, Davao Region, Northern Mindanao and Bicol.
High-quality US companies registered with PEZA include TI (Philippines) Inc., Tiger Resort, Leisure and Entertainment Inc.; JPMorgan Chase Bank N.; American power conversion; C and U Philippines, Inc; TTEC Customer Care Management Philippines Inc., ON Semiconductor Philippines Inc.; Alorica Teleservices Inc.; Infineon Technologies Manufacturing Ltd.; and Moog Controls Corp. Bilateral trade between the US and the Philippines grew by 23.4% to $23 in 2021, 3 billion, which has recovered from the 11.4% drop the year before, which was due to the lockdown restricting people’s mobility and hampering the shipping of goods in and out of the country. That year, the United States was the Philippines’ fifth largest supplier. with a 6.6 percent share of the country’s imports. The US was also the Philippines’ largest export market at 15.9% of the total value of exports in 2021, followed by China, which is a close second with 15.5% of the total.
