MANILA, Philippines -The Fortune 500 cavalry is coming.

At least 30 top American CEOs from major corporations are joining US Commerce Secretary Gina Raimondo in a landmark presidential trade and investment mission to the Philippines from March 11 to March 12 this year.

Philippine Ambassador to the United States Jose Manuel Romualdez said on Monday the country was witnessing an uptick in investment interest under the Marcos administration, which has embraced closer economic and defense ties with the United States.

This was a marked shift from former President Rodrigo Duterte’s pivot toward US global competitor China.

U.S.-PH relations

“I cannot overemphasize the fact that our relationship with the United States is at its best right now. This is the time we have to take advantage of this relationship because the interest is so high,” Romualdez said during a media briefing on Monday that was organized by the nonprofit US-Philippines Society.

Romualdez, who said the final list of CEOs and corporations had yet to be finalized, claimed interest was so high from American businessmen that they had to pare down the list of delegates.

“Secretary Raimondo told us she wanted this to be very focused, she wanted to make sure something will come out of this delegation,” he recounted.

“This is a big deal for the United States. The White House has never organized something like this,” he added.

The US-Philippines Society meeting was also called to welcome the organization’s new co-chair, tycoon Jamie Augusto Zobel de Ayala. Romualdez was also joined in Tuesday’s discussion by Ambassadors John Negroponte, a co-chair at the US-Philippines Society and Thomas Hubbard. INQ