US investment mission keen on RP

Investor confidence in the country remains strong despite a spate of economic and political woes plaguing the country

A US investment group called Patton Boggs Investment Mission met yesterday with Trade and Industry Secretary Manuel Roxas II to explore investment opportunities in the country, particularly in the information technology sector.

Roxas said members of the 10th Patton Boggs Investment Mission have expressed willingness to undertake long-term investments in the country.

Although there were no firm commitments from any of the mission participants, Roxas said they gave their assurance that they will recommend to their home offices in the US to continue doing business in the Philippines.

Roxas said participants, particularly the IT companies, commented favorably on the availability of skilled IT workers and the locals’ proficiency in English.

Participants to the Patton Boggs Mission, which belong to the Fortune 500, include Atmel Corp., Broadvision Inc., Commerce One, Cypress Semiconductor Corp., Flextronics International Ltd., Mary Kay, Molex Inc., Motorola, Red Hat, Stanley Works, Symantec Corp., UPS Asia Pacific Region, UPS Global Logistics and Veritas Software.

The group is led by former US Ambassador Philip S. Kaplan.