A January 30 luncheon forum "Strategic Outlook: the Asia Pacific, and the PH-U.S. Relationship" featured a presentation by Society director Ambassador Frank Wisner of a broad strategic outlook on the U.S.-PH relationship and an emerging Asian security order that the U.S. should support.

"Allowing our friends and partners to take the lead, their defense must be a core ingredient in United States Asian security policy. We of course will stand ready to provide the arms and technologies required to make our Asian allies strong." stated Ambassador Wisner noting a regional security structure that will be more coordinated and constructive.

"Nations coming together to secure a balance of power do so to inhibit or deter an excessive use of force by an aggressor not to defeat the offending power militarily unless no other option exists," added Ambassador Wisner.

On economic cooperation with allies and global partners, Trade and Industry Undersecretary Rafaelita Aldaba briefed on the Marcos Administration’s open trade policy that facilitates investments, global value chain participation, and job creation. The Philippines has signified its interest to join the Comprehensive and Progressive Agreement for Trans Pacific Partnership and push for the immediate ratification of the Regional Comprehensive Economic Partnership Agreement. The Philippines participates in the U.S.-led IPEF and seeks a more permanent trade mechanism like a free trade agreement with market access preference.

The Department's trade strategies include industrialization that harness science and technology, creation of a Center for Artificial Intelligence Research, developing a vibrant startup ecosystem, and the launch of the Philippines Skills Framework to address skills mismatch, which are necessary steps for accelerating competitiveness in the ASEAN region and globally.

From the Philippine private sector, US-Philippines Society Director Jaime Augusto Zobel de Ayala provided a business perspective on the Philippine economy that expanded at 7.6 percent in 2022 led by industry and services. Remittances from overseas workers, who are an important national resource, and business processing operations remain strong drivers of economic expansion. As a member of President Marcos Private Sector Advisory Council, Director Zobel de Ayala described how public private partnerships and advisory committees are formed to address domestic challenges including high inflation, and identify opportunities in priority areas that include agriculture, healthcare, job generation, tourism, physical and digital infrastructure. (Photos)

A highlight of the US-Philippines Society Board program in Manila was a January 31 presentation by a distinguished panel of Philippine women entrepreneurs and innovators across key sectors of the Philippine economy. They are chief executive officers of business enterprises engaged in real estate, infrastructure, multi-specialty clinics and diagnostic centers, business process operations, renewable energy, financial services and digital payments. They are members of social enterprises providing jobs and training in artificial intelligence, machine learning and data preparation for women across the globe, advocating for women in the coffee industry across countries, and in corporate boards. Read more

Philippine Women Leaders Panelists: (l-r) Julia Abad, Racquel Cagurangan, Cosette Canilao, Christina Concepcion, Agnes Gervacio, Emma Imperial, Ruth Yu Owen, Pacita Juan and Martha Sazon, Makati City, Philippines, 31 January 2023.

Three informative investment forums were held in Washington DC co-hosted by the US-Philippines Society and the Philippine Embassy to explore lucrative investment prospects for American companies located in Economic Zones in the Philippines. Philippine Economic Zone Authority (PEZA) OIC Deputy Director General for Finance and Administration Aleem Guiapal and IT Business Process Association of the Philippines (IBPAP) President Jack Madrid gave testimonials of the Philippine government's commitment to fast tracking foreign investments, positioning as a regional hub and gateway to ASEAN, offering a suite of services including "one-stop-shop" convenience, expedited permits processing, and tax holidays up to four years. Foreign investors will benefit from "skilled talent pool with high emotional quotient, cost competitiveness, a robust ecosystem to support global service delivery, well-developed cities to house companies and favorable business environment," Madrid stated.

American companies in PEZA including Texas Instruments, JPMorgan Chase, American Power Conversion, are major contributors by way of employment and capital in the electronics and semiconductors, business processing operations and IT industries. Signifying confidence in the Philippines as a fast growing emerging market, a manufacturer, and in its dynamic workforce, U.S. companies have expressed interest to form a joint venture and expansion at PEZA meetings. (Photos)

PEZA OIC Deputy Director General Aleem Guiapal and IBPAP President Jack Madrid, Philippine Embassy, Washington DC, 12 January 2023