American investors see better prospects for the Philippines this year with strong interests in BPOs, infrastructure, agriculture, manufacturing, tourism, creative industries, and power, but are going to lie low in mining because of some concerns on policies, particularly with local government units.

Robert Sears, executive director of the American Chamber of Commerce of the Philippines (AmCham), said the local economy is coming out already from the recession and investors are still taking a look at the Philippines.

“I think were going to have a better year than last year and even better than 2008,” he added.

“Despite the elections, American investors are still looking at the Philippines because everything is competitive here when you benchmark against Indonesia, Singapore and Cambodia,” Sears stressed.

In particular, he said, American investors are looking into the BPO sector that is why it is necessary for Congress to pass the Department of Information Communications and Technology bill to build on the existing related laws like the E-Commerce law.

“There are 400,000 workers in the ICT sector and that is huge number of votes,” Sears said taking a hint for the presidentiables to push for the bill’s passage.

He, however, said that American investors not only look at the BPO sector but a good mix of interests from agriculture, infrastructure, tourism, power, credit industries and manufacturing.

“But the mining sector was a turn off at the moment because of concerns with policies especially with the LGUs. I think that is something that the government can help with legislation,” he added.

He said that investors tend to adopt a wait and see attitude during an election year, but said they are encouraging investors to come before the elections for their feasibility studies then come back after the elections.

He said that some American investors have renewed interests in the Philippines.

“We encourage them to come look now before the elections so they are in a better position to do more after the elections,” he said.