THE investment climate in the Philippines is encouraging particularly in the energy sector, according to United States Secretary of Commerce Gina Raimondo. Raimondo made the remarks as high-level meetings took place between top US business leaders and Philippine business groups during the first US Presidential Trade and Investment Mission last March 11-12, 2023. Raimondo lauded the country’s efforts in ramping up renewable energy investments and exploring potential nuclear power projects.
In November 2023, the Philippines signed the PH-USA 123 agreement, a legal framework and bilateral agreement between the US and the Philippines to cooperate in the peaceful use of nuclear energy. “The one, two, three nuclear agreement November will also stimulate more investment,” Raimondo added.