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Two companies are investing in solar energy and medical BPO in the Philippines.

During President Ferdinand R. Marcos Jr.’s official visit to the US, two additional businesses expressed a desire to invest in the Philippines.

In a news update released on Wednesday (Manila time) by the Presidential Communications Office (PCO), solar company Maxeon announced that it will invest about USD 900 million (PHP 49.8 billion) in the Philippines’ solar energy sector, while American healthcare services provider Optum announced that it will invest about PHP 800 million in medical business process outsourcing (BPO).

In an effort to increase foreign investment, Marcos had a series of meetings in the Blair House on Tuesday afternoon (US time) with business leaders, including representatives from Optum and Maxeon.

In the coming years, the investment will create more than 3,000 employees, according to Bill Mulligan, CEO of Maxeon, which manages the SunPower brand across all international markets.

According to Mulligan, the company’s confidence in President Marcos’ administration is the driving force behind the growth attempts since he plans to increase involvement with the Philippine government regarding the company’s operations.

“The Philippines has been quite significant; in fact, it plays a critical role in our business. And I want to thank you and all of the government organizations for all of the assistance and support throughout the course of our more than 40 years in the nation, Mulligan remarked.

According to Mulligan, the company is beginning to expand its research and development (R&D) facilities in Cavite, creating about 2,000 engineering positions there.

In 2004, Maxeon constructed its first facility at the Laguna Technopark in Bian City, where it has been operating since 2003.

Meanwhile, 1,500 Filipinos will be employed by Optum’s medical BPO investment.

The Philippines are a priority for Optum, according to John Prince, president, and chief operating officer. He praised the “strategic partnership that we have had for a very long time.”

I really think that great things only come to great teams, and the Philippines has a tremendous team, Prince declared.

Optum met with the Board of Investments (BOI) in March of this year to go through the specifics of their upcoming new project in Davao as well as concerns about the importation of machinery.

In order to operate four sites in Taguig, Muntinlupa, Quezon City, and Cebu City since 2011, UHG/Optum has committed PHP5.1 billion in capital expenditures.

Along with Speaker Martin Romualdez, former President and current Senior Deputy Speaker Gloria Macapagal-Arroyo, Special Assistant to the President Secretary Antonio Ernesto Lagdameo Jr., PH Ambassador to the United States Jose Manuel G. Romualdez, and Trade Undersecretary Ceferino Rodolfo attended the meeting with President Marcos.

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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.

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