US group sends trade delegation to Manila
The Philippine-American Chamber of Commerce (PACC) based in the United States has sent a 12-member business mission to the country—the first time in about eight years—to explore anew various investment opportunities here.
PACC president Michael Nierva, who led the delegation, cited as a reason for their return the good news they had been receiving about the Philippines, such as the stock market returns, the upgrade in investment ratings by agencies such as Standard & Poor’s, Moody’s and Fitch, and the strong growth of the local economy.
It is thus a good “time to convince US companies to do business in the Philippines,” said Nierva, who works as managing director at J.P. Morgan in New York.
Nierva said in a statement issued by the Department of Trade and Industry that the government was looking to get more US companies to do the front office work in the Philippines, and go beyond the voice services.
Joining the PACC delegation were representatives of the entrepreneurship, health care, financial, import and export, and social advocacy sectors.
The group was set to meet with executives of local and multinational companies, financial institutions, potential business partners, as well as leaders and officials of the Philippine Stock Exchange, American Chamber of Commerce, Joint Foreign Chambers, US Department of Commerce, Makati Business Club, Department of Foreign Affairs, Philippine Disaster Recovery Foundation, and Philippine Business for Social Progress (PBSP).