US companies keen on investing in ASEAN, says Commerce Secretary Pritzker

By DANESSA O. RIVERA, and, KIMBERLY JANE TAN, GMA News

Published June 4, 2014 3:05pm

American companies are keen on investing in Southeast Asia, including the Philippines,Secretary of Commerce Penny Pritzker said Wednesday in Makati City.

"They are eager to make investments in IT, infrastructure, clean energy, telecommunications, financial services, healthcare, education and more," said Pritzker, who is in Manila as head of a delegation of American CEOs and the US-ASEAN Business Council.

AES Corp., Marshall McLennan, UL , General Atlantic, Mead Johnson Nutrition, and QualComm, as well as representatives of ACE Limited and Rio Tinto are part of her delegation.

In a separate meeting with President Benigno Aquino III at the Palace on Wednesday, Pritzker noted the US is interested to bring in new investments to Mindanao in light of the peace agreement the government signed last March with the Moro Islamic Liberation Front, Malacañang said on Wednesday.

This was among the points and US official discussed during a courtesy call at the Palace, Presidential Spokesperson Edwin Lacierda said.

"Some of the areas where they are looking at... the potential areas of investments [are] car manufacturing, energy, infrastructure in Mindanao, infrastructure on mass transit, and also tourism," Lacierda said.

"The US and our companies have a long term stay in the ASEAN's economic prosperity," Pritzker said in a keynote speech beofre the American Chamber of Commerce in the Philippines.

"Our companies want to be part of the solution that's why we are here in conjunction with America's top business leaders," she said.

Investments in Mindanao

In the case of Mindanao, Lacierda said: "We’ve seen other countries, ASEAN nations looking into Mindanao. And so, United States is also one of the countries who would be interested to look into investments in Mindanao."

The Palace official noted many countries have been looking at Mindanao as an investment area because of the peace pact with MILF.

Asked if the possibility of new agreements were discussed, the Palace official said there were none.

"This was a delegation that Secretary Pritzker brought over to see where United States can invest in," Lacierda said.

The US Embassy in Manila on Tuesday said Pritzker, American CEOs, and the US-ASEAN Business Council are meeting Philippine government and business leaders to talk about how the country can sustain its economic growth.

The US sees Asia, particularly Southeast Asian, as a key region for investments, Pritzker said, noting the companies are keen on bringing investments that aim to deepen economic ties.

The Association of Southeast Asian Nations (ASEAN) has evolved into an intricate partner of the world's largest economy, while the US remains one of the top global investors in the region that also serves as the fourth largest export market for America, Pritzker added. – NB/VS, GMA News

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