The recent private sector-led Philippine Investment Roadshow in Houston, Texas drew scores of American companies who are considering investing in the Philippines. Philippine Ambassador to the U.S. Jose L. Cuisia, Jr. initiated the roadshow that is now on its third year.
American corporate executives and investors attended the two-day roadshow that was capped by a business forum, “Philippines: Asia’s New Emerging Tiger.” Among the major business opportunities in the Philippines are biotechnology, business process outsourcing (BPO), energy, financial services, information technology, infrastructure, pharmaceuticals, real estate, tourism and regional economic development.
One of the forum’s speakers, University of Asia and the Pacific’s economist Dr. Bernardo Villegas, said three factors for the country’s rapid growth these past two years are the USD25 billion remitted by overseas Filipinos workers, the USD15 billion from the constantly-growing BPO industry, and increased government spending on essential infrastructure.
DMCI President Alfredo Austria cited positive developments in the construction and real estate sectors, including BPO firms’ demand for office space.