Guam's Manila Trade Mission Piques Philippines Business Interests

Written by Guam News Factor Staff Writer Jeff Marchesseault

GUAM - By many accounts, Governor Camcho's trade mission to the Philippines is being hailed a right move at the right time.

A Manila Standard Today columnist reports that Guam's recent outreach visit to Manila more than made up for a lack of attendance by Philippine businesses at the island's buildup business- outreach trade show called Guam Industry Forum III.

Attended by thousands and packed to capacity with activities spread across three hotels, the third annual forum was sponsored by the Joint Guam Program Office and Naval Facilities Engineering Command (NAVFAC) in Tumon in April.

Here is an excerpt from the MST column suggesting that the Guam delegation's personal visit sent a powerful message that Guam is serious about its desire for Philippine investment:

Filipino manpower and construction enterprises joined the initial batch of companies that signed up in the series of industry forums lined up by the US island territory in April. No major Filipino company, except for EEI Corp., joined the forum in Guam.

The Manila round of the industry forum on Tuesday, however, drew some major Philippine companies, including Petron Corp., Philippine Long Distance Telephone Co., Stradcom Corp., Penta Capital Investment Corp. and representatives of the Philippine Chamber of Commerce and Chemical Industries of the Philippines.

On July 1, the Office of the Governor of Guam issued the following media release:

Guam Trade Mission to Manila Attacts Serious Interest:

Governor Camacho issues invitations to do business on Guam

Governor Felix P. Camacho yesterday attended a conference in Manila as part of the Guam Trade Mission delegation that met with approximately 150 senior executives from several Philippine companies to expand on their initial interest in doing business in Guam. The executives represented companies from the fields of technology, real estate, construction, insurance, financial services, agriculture, aquaculture and medicine. In addition to Governor Camacho, members of the Guam delegation included representatives of the Guam Economic Development Authority (GEDA) and members of the island’s private sector.

“I am excited that these companies are looking to extend their services to our island and we certainly welcome their investment,” said Governor Camacho. “I informed them that my office and GEDA are ready to assist with their entry into the Guam market.”

Philippine companies in attendance included Petron Corporation; Philippine Long Distance Telephone Company;; Land Registration Systems, Inc.; 1 Document Corporation; Stradcom Corporation; Penta Capital Investment Corporation; Saludo, Fernandez, Aquino and Taleon Law Offices; and HP Diagnostic. Additionally, the conference was attended by the Philippine Representative of Asian Development Bank as well as representatives of the Philippine Chamber of Commerce and Chemical Industries of the Philippines.

A number of private businesses are sponsors of the trade mission, including Continental Airlines; International Group, Inc.; Pacific Rim Brokers, Inc.; Land Registration Systems Inc.; Stradcom Corporation; 1 Document Corporation; Century Insurance Co. Ltd.; and the Marianas Business Journal.

“I would like to thank Governor Camacho and GEDA for their participation in this event. While this mission was arranged by a number of individuals in the private sector, the support we have received for the Governor and GEDA is proving invaluable,” said Peter R. Sgro, chairman and executive officer of International Group. “We look forward to the next step in the process as these organizations firm up their plans.”