Executive Secretary Ralph Recto called on American companies to ensure that their investments in the Philippines create jobs, develop Filipino talent, and contribute to shared prosperity.
“That is the partnership we want—not just one business mission, but generations of investment, innovation, jobs, and shared prosperity between the Philippines and the United States,” Recto told American business leaders at the Welcome Reception for the 2026 Philippines Business Mission.
He urged US companies to help transform the eight-decade Philippine-American alliance into a forward-looking economic partnership.
“Stay in the Philippines. Expand in the Philippines. And build your future in the Philippines,” Recto told members of the US-ASEAN Business Council (USABC).
He highlighted the Luzon Economic Corridor (LEC), which will link Subic, Clark, Manila, and Batangas into a hub for logistics, manufacturing, connectivity, and innovation. The corridor is expected to generate up to one million jobs and help drive economic growth.
“This is how we can turn an eight-decade alliance into an economic corridor for the next generation.”
“This is how we can turn an eight-decade alliance into an economic corridor for the next generation,” Recto stressed.
He also invited US companies to expand their investments in electronics and semiconductors, particularly in advanced packaging, integrated circuit design, research and development, supply-chain resilience, front-end semiconductor capabilities, and critical minerals processing.
The Philippines aims to move beyond extracting and exporting critical minerals by building domestic capacity in processing, manufacturing, and innovation.
“We want more factories rising here, critical minerals processed—not just extracted and exported. More electronics proudly made in the Philippines. And more Filipino engineers, technicians, and researchers given the chance to thrive,” Recto stressed.
He said the Pax Silica partnership gives American companies an opportunity to bring technology, capital, research, and training to the Philippines.
“We do not want American companies to simply buy from the Philippines. We want you to bring your technology here. Bring your capital and research here. Train Filipino talent here. And build your next breakthrough here,” Recto explained.
He acknowledged that investor confidence depends on a capable workforce, competitive costs, predictable regulations, reliable infrastructure, and efficient government.
“Your confidence cannot be demanded. It must be earned. And that is exactly what we intend to do,” Recto said.
He noted that President Ferdinand Marcos Jr.’s administration is pursuing reforms to make investing in the Philippines easier, faster, and more predictable. These include the CREATE MORE Act, Green Lanes for strategic investments, and the Energy Virtual One-Stop Shop.
The government has also opened additional sectors to foreign participation, including renewable energy and public services such as telecommunications, toll roads, airports, and shipping. Other measures include the Retail Trade Liberalization Act, reforms to the mining fiscal regime, the Capital Markets Efficiency Promotion Act, and the Electric Vehicle Incentive Strategy Program.
“When government becomes the obstacle to growth, government must change—not the ambition, not the investments, and certainly not the opportunity,” Recto said.
He invited business leaders to identify regulatory and infrastructure bottlenecks affecting investments, including lengthy permitting processes, regulatory uncertainty, and infrastructure gaps.
“Tell us where the government can do better,”
“Tell us which permit takes too long. Tell us which regulation creates uncertainty. Tell us which infrastructure gap raises your costs. Tell us where the government can do better,” Recto said. “We will listen. We will act. We will do the handholding. And we will compete for your investment.”
He also underscored the Philippines’ ASEAN Chairmanship as an opportunity to promote regional trade, resilient supply chains, connectivity, and digital standards that support cross-border business.
Recto said the success of stronger Philippine-American economic ties should be measured not only by capital inflows, but also by the jobs created, Filipino talent developed, industries strengthened, and families whose lives are improved.
The Philippines Business Mission is an annual engagement organized by the USABC to strengthen US-Philippines economic and business relations. The USABC represents more than 180 leading global corporations operating in ASEAN and worldwide.
Joining Recto at the event were Department of Labor and Employment Secretary Francis Tolentino, Department of Environment and Natural Resources Secretary Juan Miguel Cuna, and Bangko Sentral ng Pilipinas Governor Eli Remolona Jr.
Also present were US Ambassador to the Philippines Lee Lipton and US-ASEAN Business Council President and CEO Ambassador Brian McFeeters.
