US businesses voice concern over US-PH relations

The American Chamber of Commerce of the Philippines (AmCham) voices growing concern over developments that could harm the long-standing optimism of American business to invest in the Philippines.

“While the country’s economic fundamentals are strong and its potential is high, our members have raised concerns that some basic American values – which Filipinos have long shared may be weakening in the current environment,” a statement from the chamber said.

Certainly, AmCham said, the illegal drug menace is a serious threat in the Philippines, as it is in the US and elsewhere.

However, the increased number of killings during the heightened anti-drug campaign is harming the country’s image, as portrayed by international media, and some investors are now asking whether this campaign reduces the rule of law.

In addition, the American business group noted that the traditionally excellent bilateral relations between the United States and the Philippines have recently been strained by language from Philippine leaders.

Although statements of regret soon followed, such words and their international policy also create investor concern.

The AmCham statement did not mention President Duterte’s statements against US President Obama but it apparently referred to recent developments where the bilateral talk between the two leaders did not push through following Duterte’s strong warning to curse Obama if ever the American leader will bring up the issue of extrajudicial killing in the country.

AmCham has always been optimistic about the Philippines and committed to strengthen bilateral trade, investment, and cultural ties, the statement said.

“We remain hopeful that these ties will become even stronger in the months and years ahead and are committed to working with the Philippine Government and people to continually improve them,” it said.