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U.S. Interested in Philippine Due to Its Economic Growth

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Philippine President Benigno Aquino III gestures while talking to visiting U.S. Secretary of Commerce Penny Pritzker during her visit to the presidential palace in Manila on June 4. –Reuters

U.S. Commerce Secretary Penny Pritzker told the Wall Street Journal that the United States is very much interested in expanding its economic footprint in the Philippines beside militarily.

The lift-off of the Philippine economy has clearly piqued American interest, with the Philippines’ gross domestic product – hitting $250 billion in 2012 – set to top $1 trillion by 2030, the Wall Street Journal wrote.

“We see that there’s a plethora of sectors where U.S. businesses could be more active here in the Philippines,” Ms. Pritzker told The Wall Street Journal, listing infrastructure, telecoms and healthcare as areas in which American businesses could thrive.

Read more at The Wall Street Journal Blogs.

Photo from source.

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