US companies to announce investments of over $1 billion in the Philippines > News Clips

US companies to announce investments of over $1 billion in the Philippines

MANILA (Reuters) -American companies are set to announce investments amounting to more than $1 billion in the Philippines, U.S. Commerce Secretary Gina Raimondo said during an official visit to Manila on Monday.

Raimondo is heading a two-day trade and investment mission, the first of its kind for the Philippines. The delegation includes executives from 22 companies including United Airlines, Alphabet's Google, Visa, KKR Asia Pacific and Microsoft.

The investments will span areas like solar energy, electric vehicles and digitisation, she said.

United said last week it would launch new flights from Tokyo-Narita to Cebu, Philippines starting July 31.

U.S. efforts to deepen economic ties with the Philippines come in tandem with increased cooperation in defence. Both U.S. President Joe Biden and Philippine President Ferdinand Marcos Jr are keen to counter what they see as aggressive actions by China in the South China Sea and near Taiwan.

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https://www.yahoo.com/finance/news/us-companies-announce-investments-over-073325725.html

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