For Immediate Release
Manila — The United States Government and the American Chamber of Commerce of the Philippines (AmCham) launched a new partnership today to further enhance the country’s business climate and sustain the economic gains achieved by the Aquino administration. Funded by the U.S. Agency for International Development (USAID), The Arangkada Philippines Project (TAPP) implements the Joint Foreign Chambers of the Philippines’ recommendations to enhance the growth of key economic reform sectors and reforms under the U.S.-Philippines Partnership for Growth.
The launch took place on February 26, 2013 at the Makati Shangri-La Hotel during AmCham’s Arangkada Philippines Second Anniversary Forum, which serves as one of TAPP’s annual highlights.
Speaking at the event, U.S. Ambassador Harry K. Thomas Jr. said, “This partnership pursues the goal of the U.S.-Philippines Partnership for Growth to sustain broad-based and inclusive economic growth in the country.”
TAPP advocates the implementation of nearly 500 recommendations to create $75 billion in foreign direct investments, 10 million new jobs, and PhP1 trillion in new tax revenues through rapid development of priority growth sectors — Agribusiness, Creative Industries, Manufacturing and Logistics, Infrastructure, Mining, and Tourism.
AmCham President Rhicke Jennings welcomes this partnership as an opportunity to engage with the government and partners in the private sector to institute critical business and economic reform measures that will lead to greater investments and inclusive economic growth. “While we recognize the ongoing and considerable gains in terms of economic growth and reforms in governance, many challenges remain for the Philippines to realize its potential to become a middle income economy. Through The Arangkada Philippines Project, USAID and AmCham will work with government, private sector, and other stakeholders to accomplish the goal of high and inclusive growth,” Jennings said.
U.S. Embassy Manila's USAID/Philippines Mission Director Gloria D. Steele explained, “We aim to enhance the growth of key economic reform sectors and further improve the investment climate in the Philippines."
For more information, please visit http://www.arangkadaphilippines.com/forum.
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Last updated: February 10, 2014