MANILA: The Center for Strategic and International Studies (CSIS) on Monday highlighted strategies aimed at strengthening economic relations between the Philippines and the United States.

According to Philippines News Agency, the American think tank, in a presentation at the Edsa Shangri-La Hotel in Mandaluyong City, emphasized addressing challenges such as transparency issues, inconsistencies in US-Philippines foreign investment data, and limited assessments of the impacts of US investments. Other concerns include minimal visits from US business leaders, investment concentration in Luzon, and bureaucratic red tape.

CSIS Southeast Asia Program research associate Japhet Quitzon suggested developing a comprehensive database on US investments to showcase employment benefits in the Philippines. Quitzon pointed out that the impact on Filipinos is underreported, allowing false narratives to spread online.

The study indicated that the quantitative and qualitative effects of the Philippines-US economic ties are n
ot well-documented, leaving the partnership open to disinformation. Without intervention, the US could be mischaracterized as uninterested or unable to fulfill its economic responsibilities with the Philippines.

Key investment areas in the Philippines include agriculture, renewable energy, IT-BPM, and semiconductors and electronics. The CSIS recommended creating a unified platform for US and Philippine data, aggregating investment data from agencies like the Philippine Economic Zone Authority and the Philippine Statistics Authority, and expanding online presence to counter misinformation.

Additionally, the CSIS advised sustaining person-to-person exchanges and expanding investments beyond Metro Manila to cities like Cebu and Davao. Notable developments in the PH-US economic relationship include the Indo-Pacific Framework, Luzon Economic Corridor, and the Enhanced Defense Cooperation Agreement.

The US has invested approximately USD3.6 billion in the Philippines from 2013 to 2024, ranking fifth in the countr
y’s foreign direct investments. In 2022, the trade exchange between the two nations reached USD36.1 billion, with USD12.8 billion in exports to the Philippines and USD23.3 billion in imports to the US.