Japanese business entities confirmed they will be investing more than P50 billion in the Philippines following the recent meetings with and presentations by a Filipino delegation composed of government and economic officials, according to a news article by the Philippine News Agency (PNA).
To put things in perspective, posted below is an excerpt from the PNA news article. Some parts in boldface…
The Philippine delegation secured around PHP51 billion worth of investments during its trip to Osaka, Japan, last week, according to Department of Trade and Industry (DTI) Secretary Cristina Roque.
The bulk of the investments, amounting to PHP34 billion, is from the operator of the world’s largest karaoke chain, Koshidaka Holdings Co., Ltd., which intends to open 300 outlets over the next 10 years.
In a press release Monday, Roque said this particular investment is projected to generate over 1,500 direct jobs and support thousands through construction and supply-chain activities.
Another conglomerate, Marubeni Corporation, committed PHP15-billion investments for real estate, financial technology, healthcare, and afforestation.
Sojitz Corporation, a general trading corporation, will also invest PHP2 billion to PHP3 billion in a property developer to attract firms that are into artificial intelligence, semiconductor design, software, and healthcare, and expressed interest in aviation-related projects.
Roque said Mitsui & Co., a major Japanese trading company, will expand its existing investment in the Philippines after it reaffirmed its partnership with Metro Pacific Investments Corp. and Steel Asia for a steel recycling entity targeted to support decarbonization bid.
“These commitments in green energy, smart housing, healthcare, and creative services highlight the strength of our partnership with Japan. DTI and the Economic Team will work together to ensure these projects generate quality jobs, strengthen supply chains, and advance the country’s shift to a green, digital, and broad-based economy,” she said.
“These investments are a testament to President Ferdinand R. Marcos Jr.’s vision for an agile, innovation-driven economy that welcomes partnerships and delivers inclusive growth.”
Let me end this post by asking you readers: What is your reaction to the recent developments? Are you delighted that the Philippines secured P51 billion worth of investments from Japanese business entities? Do you think this will help the Philippines attract more foreign investments over the next six months?
You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.
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