BAGUIO CITY ? United States Ambassador Kristie Kenney on Tuesday said it would be hard to predict how soon her country can recover from its first recession in nearly a century, but added the Philippines is resilient enough to survive the impact of the recession on the local economy.

Noting the termination of about 400 employees of the Texas Instruments Philippines Inc. (Tipi) at the Baguio City Economic Zone, Kenney said American investments in the country have started fortifying against their home offices? financial troubles.

Kenney, who hosted reporters at a ?Christmas Coffee? at the Ambassador?s Residence at Camp John Hay here, noted the strong symbiosis between the Philippines and the US because of exports and globalization.

She said she could not hazard a guess about the recession until President-elect Barack Obama assumes office on Jan. 20.

No prediction

?It would all depend on what kind of economic recovery program [Obama would impose]? How people [in the United States] spent during Christmas?It?s just impossible to predict,? she said.

Kenney said Obama had already warned her countrymen to prepare for ?tough times to get the [US] economy going.?

But given the strong showing by other US firms here like Sitel Philippines and Moog Phils, Kenney said American investors have been cushioned from the recession because of the Philippines? good economic situation.

She said Philippine banks eluded problems because it has few loan transactions with US banks.

Despite the crisis, Coca Cola Bottlers Co. is opening a new local facility in Sta Rosa, Laguna, she said.

This is also a diversified economy, she said, which continues to attract American investments.

The National Economic and Development Authority said the country has thriving local industries that are partially insulated from a world financial crisis, such as agriculture and mining.

Continued aid

Kenney said the recession should not hamper direct US government aid to the country, including an annual $15 million appropriation for benefits of Filipino veterans.

She said US aid to the Philippines does not only help the country but US interests as well. The Philippines after all is ?an environmental superpower? because of its untapped natural resources, she said.

The ambassador normally hosts an annual yearend get-together for Baguio residents, but this may be Kenney?s last.

Kenney said Obama?s assumption also meant the end of her three-year posting. ?I?ve only been extended from March to August 2009,? she said.

She left behind a New Year?s wish for ?unity? because ?when we?re all together, we are strong,? she said.