DCCCII sees no pullout of US businesses here

THE Davao business community is not worried about the pronouncement of President Rodrigo Duterte on an independent foreign policy, especially separate from the United States underscoring that it is still business as usual for most of the US-based firms operating in the city.

Davao City Chamber of Commerce and Industry, Inc. (DCCCII) president Bonifacio T. Tan told reporters Tuesday, October 25 at the sidelines of the 10th DCCCII general meeting at the Royal Mandaya Hotel that the Philippine’s direction of pursuing a more independent foreign policy will not affect the business climate of US firms currently operating in the city.

“So far, we hear no concerns raised by any US firm here, the President’s pronouncement will not affect those US businesses that are already here,” he said noting that Duterte himself clarified that there will be no severance of “diplomatic” ties from the decades-long ally.

Tan admitted that those eyeing expansion or locating here might have some qualms.

“(S)omehow it will create a doubt,” Tan said.

However, Davao City Investment Promotions

Center (DCIPC) officer in charge Lemuel Ortonio told Sun.Star Davao in an interview that they have not received any negative feedback or concerns from US-based companies operating in the city or any possible withdrawal by potential American investors.

Asked on the possibility of some US companies deciding to stop pouring investments here, Tan was quick to add: “No, it will not happen because it does not work that way. For as long as the business here is profitable, businessmen will always find a way.”

The Davao Chamber president reiterated that there is nothing to worry that much for those currently employed by American-based companies and Filipinos who are living in the US. ASP (For full story visit www.sunstar.com.ph/ davao/)