The American Chamber of Commerce of the Philippines (AmCham) said that investors from the United States would be putting up to three billion dollars of investments in the country's infrastructure, manufacturing and information technology sectors, the Philippines Daily Inquirer said.

Robert Sears, the AmCham executive director, made this announcement at a roundtable discussion with President Gloria Arroyo on Friday, citing the improved fiscal situation and business optimism in the country the paper said.

"Sears said the optimistic assessment of AmCham members was that the figure could potentially go up to nine billion dollars if the government would take care of some red tape issues," the report said.

Sears said US businessmen and other foreign investors in the country were not too concerned about the results of the midterm elections in May.