May 31, 2023

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Marcos gets US investment pledges

2 min read

SEVERAL US COMPANIES are seeking to invest in the Philippines after company officials met with a delegation from Manila during President Ferdinand R. Marcos, Jr.’s four-day visit to Washington, D.C. this week, according to the Philippine Trade department.

The business delegation met with officials from Zero Motorcycles, Analog Devices, healthcare provider Optum (UHG), Inc., business process outsourcing (BPO) company Atento S.A., NuScale Power Corp., Ultra Safe Nuclear Corp. and Maxeon Solar Technologies, it said in a statement on Wednesday.

Optum will invest P800 million to establish a health information management service operation in Davao that will create 1,500 jobs, the agency said.

Analog Devices will set up a research and development center that will hire 1,000 engineers for semiconductors, it added.

“We are happy with the outcome as six of the companies have firm plans in the Philippines,” Trade Secretary Alfredo E. Pascual said in the statement. “The companies will put in billions of dollars’ worth of investments and will generate thousands of jobs for the Filipino people.”

Maxeon plans to produce its Max 7 product in the country.

“With this project, the most advanced solar cells in the world will be manufactured in the Philippines,” the Trade department said.

In a separate statement, the presidential palace said Atento would set up its first call center in the Philippines at the Iloilo Business Park.

Mr. Marcos told company officials at the Blair House in Washington, D.C. “Filipinos speak and write the best English,” the Presidential Communications Office said in a separate statement.

“I know it will be successful because it has been successful in the past,” he said, based on the palace statement. “It has been a go-to industry for the Philippine government for quite a long time now.”

“I don’t see how it could be a problem since this is really a line of work that has become well established in the Philippines,” he…


2023-05-03 12:34:04

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