FINANCE chief Ralph Recto recently met Undersecretary for Economic Growth, Energy and Environment Jose W. Fernandez of the United States’ Department of State regarding strategic ties between their countries.
In a statement, the Finance Department said Fernandez highlighted specific areas of interest for the US—particularly critical minerals, semiconductors, and energy security.
For his part, Recto expressed the Philippines’s willingness to collaborate on the said sectors. He also urged the US to strengthen its trade partnership to diversify supply chains and enhance economic resilience.
Recto assured the public that the Philippine government will address investor concerns, such as high electricity costs through initiatives like the proposed amendments to the “Corporate Recovery and Tax Incentives for Enterprises Act,” and other streamlined processes to ease the conduct of business in the country.
Ambassador MaryKay Carlson, US State Special Assistants Laura Russ and CJ Johnson, and key officials from the US Embassy in Manila joined Fernandez in the meeting.
Image credits: DOF/PNA