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Advocates Philippines
Marcos Admin Secures P14.5 Billion Investments At ASEAN-Japan Summit
Photo credit: PCO
The Marcos administration announced on Monday a significant milestone in the country's economic landscape, reporting a total indicated investment of P14.5 billion following the Department of Trade and Industry-led business event at the ASEAN-Japan Commemorative Summit in Tokyo, Japan.
President Ferdinand R. Marcos Jr. expressed his delight, revealing that the new agreements and pledges from Japanese investors, totaling P771.6 billion or about US$14 billion, are anticipated to generate approximately 40,000 job opportunities.
The investments span diverse sectors, including semi-conductors, healthcare, infrastructure, and agriculture. President Marcos highlighted the high-profile presence of Japanese companies in infrastructure development, emphasizing that many projects are not only for the Philippine market but also for foreign markets, contributing to improved external balance and payments.
During the event, nine new memoranda of understanding (MOUs) were signed, amounting to a total value of PhP14 billion. Presidential Adviser on Investment and Economic Affairs, Frederick Go, emphasized the significance of more than 20 companies providing updates on their pledges from a previous trip in February, with P169 billion in actualized investments.
Key collaborations include the partnership between the Bases Conversion and Development Authority (BCDA) and Japan Overseas Infrastructure Investment Corp. for Transport and Urban Development (JOIN) for the development of the New Clark City. Additionally, BCDA is renewing its lease with Manila Japanese School (MJS) at the Bonifacio Global City for another 25 years.
Prominent investors, such as Ibiden Co. Ltd and Japan Aviation Electronics Industry Ltd., are set to inject foreign direct investments (FDIs) into electronics manufacturing, enhancing efficiency and increasing production through the modernization of Philippine facilities.
Other notable commitments come from Medley Inc., Minebea Mitsumi Inc., Nitori Holdings Co. Ltd, and Tsuneishi Shipbuilding Co. Ltd., who are investing in business process outsourcing (BPO) operations, expanding furniture and home furnishing chains, and improving production facilities.
Further boosting economic prospects, DMCI Project Developers Inc. is forming a joint venture with Japan's Marubeni Corp. for property development projects, marking a substantial step forward in fostering economic cooperation between the Philippines and Japan.
President Ferdinand R. Marcos Jr. expressed his delight, revealing that the new agreements and pledges from Japanese investors, totaling P771.6 billion or about US$14 billion, are anticipated to generate approximately 40,000 job opportunities.
The investments span diverse sectors, including semi-conductors, healthcare, infrastructure, and agriculture. President Marcos highlighted the high-profile presence of Japanese companies in infrastructure development, emphasizing that many projects are not only for the Philippine market but also for foreign markets, contributing to improved external balance and payments.
During the event, nine new memoranda of understanding (MOUs) were signed, amounting to a total value of PhP14 billion. Presidential Adviser on Investment and Economic Affairs, Frederick Go, emphasized the significance of more than 20 companies providing updates on their pledges from a previous trip in February, with P169 billion in actualized investments.
Key collaborations include the partnership between the Bases Conversion and Development Authority (BCDA) and Japan Overseas Infrastructure Investment Corp. for Transport and Urban Development (JOIN) for the development of the New Clark City. Additionally, BCDA is renewing its lease with Manila Japanese School (MJS) at the Bonifacio Global City for another 25 years.
Prominent investors, such as Ibiden Co. Ltd and Japan Aviation Electronics Industry Ltd., are set to inject foreign direct investments (FDIs) into electronics manufacturing, enhancing efficiency and increasing production through the modernization of Philippine facilities.
Other notable commitments come from Medley Inc., Minebea Mitsumi Inc., Nitori Holdings Co. Ltd, and Tsuneishi Shipbuilding Co. Ltd., who are investing in business process outsourcing (BPO) operations, expanding furniture and home furnishing chains, and improving production facilities.
Further boosting economic prospects, DMCI Project Developers Inc. is forming a joint venture with Japan's Marubeni Corp. for property development projects, marking a substantial step forward in fostering economic cooperation between the Philippines and Japan.
Dec 18, 2023
