President Ferdinand "Bongbong" Marcos Jr.'s working visit to Japan is expected to yield 8,000 jobs for Filipino workers, the Philippines' top diplomat there said Tuesday.
Ambassador Mylene Garcia-Albano made the estimate as she said around P150 billion are expected as "substantial returns in terms of new projects" once Marcos meets with the Japanese monarch; his Japanese counterpart, Prime Minister Fumio Kishida; and the Japanese businessmen.
The President will arrive in Tokyo on Wednesday, Feb. 8.
"They will discuss how the private sector, the Japanese investor companies, the government and other stakeholders can work more closely together to ensure the success of the businesses in the Philippines," Albano said in an interview with ANC.
According to her, the President will deliver a keynote address about the country's business opportunities in an event that "will be attended by hundreds of top Japanese businessmen."
Marcos, she added, will meet with chairmen and top executives of electronics, semiconductors, printers and wiring harness manufacturing companies at a roundtable meeting.
"You will also witness the signing of several letters of intent and agreements which are expected to significantly expand Japanese investments," Albano said.
In a recent pre-departure briefing, the Department of Foreign Affairs (DFA) bared that the Philippines and Japan are set to sign seven agreements covering the following areas of cooperation: Infrastructure Development, Defense, Agriculture and Information and Communications Technology.
Around 377 billion Yen (P156.8 billion) is expected to be loaned by Japan for the country's railway project during Marcos' visit, according to sources.
In his remarks, DFA Assistant Secretary for Asian and Pacific Affairs Neal Imperial said they consider the trip "consequential" since Japan was the first country with which the Philippines forged a strategic partnership. It is also only one of two strategic partners of the Philippines, the other one being Vietnam.