Companies from the US are increasingly looking at the Philippines as possible alternative location for their existing operations in China amid trade tensions between Washington and Beijing.
John Goyer, executive director for Southeast Asia at the US Chamber of Commerce, said that US investors have noted the efforts of the Philippine government to further improve its business climate, The Philippine Star noted.
Goyer cited the latest Doing Business Report by the World Bank that showed that the Ease of Doing Business ranking of the Philippines jumped 29 notches to 95th from the previous 124th position.
“I think that demonstrates that you see an ongoing effort in the Philippines to improve the business climate, improve the investment environment and so I think that countries are paying attention and that there are business opportunities in that market for sure,” Goyer said.
He added that the US remains one of the major investors in the Philippines and its presence in the country is diversified from services including business process outsourcing operations, agri-business, as well as high tech manufacturing.
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