American companies—including those involved in pharmaceuticals, semiconductors, solar power and business process outsourcing–committed to invest more than $1.1 billion in the Philippines and told visiting President Ferdinand Marcos Jr. they were eager to tap the country’s “critical mix of talent and global business service expertise.”
“We are really excited to have selected the Philippines for the third one primarily because you know the capabilities exist. We have the talent that exists, and we know that the partnership will be one that can be beneficial for both Moderna and the Philippines,” Garay said.Bergstedt said there are other countries that offered shared services with Moderna but they have chosen the Philippines as the “perfect location” for their third shared service facility in the world.
Once operational, it will be Moderna’s only shared service facility in Asia and the third in the world following Poland and the United States.“We are pleased to expand our footprint into the Philippines by establishing an enterprise solutions hub and commercial operations,” Moderna Chief Executive Stéphane Bancel said in announcing the investment plan.
Solar company Maxeon, meanwhile, said it will invest some $900 million in solar energy in the Philippines, while American health care services provider Optum will invest some P800 million in medical business process outsourcing in the Philippines. Mulligan said they are starting the expansion of their R&D facility in Cavite, providing around 2,000 engineering jobs in the area.
Since 2011, UHG/Optum has invested P5.1 billion in capital expenditure in operating four sites in Taguig, Muntinlupa, Quezon City and Cebu City. President Marcos met with Atento President Fili Ledezma Soto and Chief Delivery Officer Josh Ashby at the Blair House as part of his official trip to the US.
Also on Tuesday, a seafaring industry executive told President Marcos that US firms are set to hire some 75,000 Filipino seafarers in the next three to four years. John Padget, president and CEO of Carnival Corp. said his group of companies is set to hire the Filipino seafarers and praised Filipino workers for their hospitality and competitiveness in the global workforce.
The United States-Philippines Society, co-chaired by Ambassador John D. Negropotente, made the commitment following the group’s meeting with President Marcos. The Society was organized in May 2012 with the aim of enhancing and awareness of the profile of the Philippines in the United States in the areas of security, trade, investments, tourism, the environment, history, education and culture.