US firms investing over $1 B in Phl

Firms that are part of a high-level US trade and investment mission to the Philippines are planning to invest over $1 billion in the country in various areas, including energy and upskilling projects. 

- LOUELLA DESIDERIO

 

At a press conference yesterday, US Secretary of Commerce Gina Raimondo said these firms are set to announce the investments to be made in priority sectors identified by the Manila government. 

“On this trip alone, these companies are announcing over a billion dollars of US investments, including creating educational opportunities for over 30 million Filipinos in the form of digital upskilling, AI (artificial intelligence) upskilling digital training,” Raimondo said.

She added that Microsoft Corp., in particular, is set to partner with the Technical Education and Skills Development Authority to train over 100,000 Filipino women in AI and cybersecurity.

There will also be an announcement on an electric vehicle education center to train Filipinos for jobs in the fast-growing industry, according to the US government official.

There would also be investments in solar and nuclear projects to support the Philippines’ energy and climate goals.

Also part of the upcoming projects is a new airline route to open up travel and tourism to Cebu.

Raimondo is leading the US Presidential Trade and Investment Mission currently in the country.