DOF’s Go woos US private sector to support PH economic reforms

Finance Secretary Frederick Go is inviting the United States’ private sector to support the Philippine government’s economic reforms in a bid to attract investments and create more opportunities for Filipinos amid global geopolitical challenges.

In a news release on Tuesday, the Department of Finance (DOF) said Go – the Marcos administration’s chief economic manager – attended a business roundtable with the American private sector on April 14 in Washington, D.C.

During the roundtable, Go said the government is pursuing key policy reforms and is establishing sectors that are ready for immediate investment.

This includes semiconductors and electronics, mineral processing, pharmaceuticals and medical devices, food and agriculture, steel, renewable energy, infrastructure, and tourism.

He also highlighted growing opportunities in emerging industries such as electric vehicles and shipbuilding, citing recent discussions with Mitsubishi Motors Corporation on plans to develop hybrid electric vehicle manufacturing capabilities in the country.

Go emphasized that the Philippines is inviting long-term investments in these key sectors.

“These strategic investment pillars represent both growth and stability, and we are inviting deeper cooperation and long-term investments in our priority sectors,” the Finance Secretary said.

“So, if you are looking for your next growth market in Asia, look at the Philippines,” Go added.

The DOF said members of the US private sector – led by the US-ASEAN Business Council (USABC) and the US Chamber of Commerce (USCC) – expressed support for the Philippines’ economic agenda while identifying areas for deeper collaboration.

The business roundtable served as a platform to exchange views on priority fiscal and financial issues, including investment climate reforms, capital market development, and strategies to sustain economic resilience. — JMA, GMA News