NextGen Day

On Monday, the local business sector voiced hope that President Ferdinand Marcos Jr.’s five-day official visit to Washington will result in more than simply strengthened defense ties and may lead to new economic ventures between the longtime allies.

The chairman of the Federation of Philippine Industries (FPI), Jesus Arranza, stated in an interview that the Philippine leader should encourage more significant American investments in the domestic manufacturing sector.

According to him, the Philippine economy would substantially benefit from new foreign investments focused on producing high-value completed items rather than just exporting raw materials or intermediate products for further processing elsewhere.

“The President should target investors who are willing to bring in money, in the true sense of investment, and not those who will come in and borrow capital from local financial institutions,” the speaker continued.

Arranza added that “each country has the right to defend itself with the help of friends” to support his belief that the Marcos-Biden summit would lead to a militarily stronger Philippines.

Francis Chua, the local branch’s chairman, and founder, for his part, asserted that the sheer presence of additional US troops here already bodes well for the massive injection of foreign currency into the regional economy.

According to him, American service members stationed in the Philippines, whether for short or long periods, would unavoidably contribute to the country’s retail, food, and hospitality sectors through their spending.

“They (US troops) have a lot of money, which they will spend at hotels, eateries, shopping centers, and other businesses. As a result, there will be many new career opportunities for Filipinos who can serve wealthy new consumers.

Chua, who also serves as chairman emeritus of the Philippine Chamber of Commerce and Industry (PCCI), advised Marcos to use his meeting with Biden and the improved ties between the two countries to highlight the Philippines as a destination for foreign investment.

Even though Marcos’ US visit was primarily focused on defense, Henry Lim Bon Liong, the former president of the Filipino-Chinese Chambers of Commerce and Industry (FCCCI), claimed it could also act as a springboard for increased American investments in regional agriculture.

He asked the President to look for investors who could bring cutting-edge soybean and corn agricultural technologies to the Philippines.

He continued that if local farmers can produce enough soy, there is a very high market for exports.

“The US is very advanced in agriculture, and they can help us a lot,” said Bon Liong, a local supporter of hybrid rice production.

Save/Share this story with QR CODE

---

Disclaimer

This article is for informational purposes only and does not constitute endorsement of any specific technologies or methodologies and financial advice or endorsement of any specific products or services.

Need to get in touch?

Feel free to Contact NextGenDay.com for comments, suggestions, reviews, or anything else.

---

We appreciate your reading. Simple Ways To Say Thanks & Support Us:
1.) GIVE A TIP. Send a small donation thru Paypal
Your DONATION will be used to fund and maintain NEXTGENDAY.com
Subscribers in the Philippines can make donations to mobile number 0917 906 3081, thru GCash.
3.) BUY or SIGN UP to our AFFILIATE PARTNERS.
4.) Give this news article a THUMBS UP, and Leave a Comment (at Least Five Words).

---

AFFILIATE PARTNERS

World Class Nutritional Supplements - Buy Highest Quality Products, Purest Most Healthy Ingredients, Direct to your Door! Up to 90% OFF.
Join LiveGood Today - A company created to satisfy the world's most demanding leaders and entrepreneurs, with the best compensation plan today.

---