“The U.S is committed to the Philippines”:
Sec. Raimondo to Business Community

12 March 2024 – Over 400 high-level representatives from the business sector, diplomatic corps, and media attended the Joint Membership Meeting with the U.S. Secretary of Commerce Gina Raimondo, who is leading the Presidential Trade and Investment Mission to the Philippines from March 11-12, 2024.

During the fireside chat with IBM Country General Manager and MBC Women in C-Suite Chair Aileen Judan-Jiao, Sec. Raimondo emphasized on strengthened PH-U.S relations with the Philippines being the only country that President Biden has sent the Presidential Trade and Investment Mission to.

“The message is the U.S is committed to the Philippines, [and] is going to continue to show up to the Philippines. We are engaging more and more economically in the Indo-Pacific region, but the Philippines is special,” Sec. Raimondo said.

In May 2023, President Joe Biden announced a Presidential Trade and Investment Mission to strengthen U.S-PH ties in trade and investment and reinforce the Philippines as a key hub for regional supply chains and high-quality investment. Sec. Raimondo is joined by high-level representatives from 20 U.S companies like Google, Microsoft, United Airlines, and Visa.

In his introduction of her, MBC Vice Chairman and Ayala Corporation Chairman Jaime Augusto Zobel de Ayala described Sec. Raimondo as “a key figure in passing the landmark Infrastructure Investments and Jobs Act, as well as the CHIPS Act.” This is in relation to the Philippines being one of the seven countries that the US will be partnering with to diversify its semiconductor supply chain under the CHIPS and Science Act.

“That’s the opportunity for the Philippines. The Philippines already has 13 semiconductor assembly, testing and packaging facilities. Let’s double it,” said Sec. Raimondo.

Also present in the event were MBC Chairman Edgar Chua, MBC Trustees Cosette Canilao and Lito Tayag. Attendees also include Ambassadors from the ADB, U.S, U.K, Singapore, New Zealand, and Malaysia.

This event was organized in partnership with the U.S. Embassy in the Philippines, American Chamber of Commerce, Management Association of the Philippines, and the U.S-ASEAN Business Council.

MBC’s Global Programs aims to convene government, business, diplomatic corps, and other stakeholders both locally and internationally to promote bilateral business opportunities, ideas, and policies that support an innovative and competitive economy.