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Manila Bulletin devider Philippines devider National devider Marcos secures P14-B investment pledges from 9 Japanese firms

Marcos secures P14-B investment pledges from 9 Japanese firms

Published Dec 18, 2023 08:00 am

TOKYO, Japan—Nine investment pledges amounting to P14 billion were secured by the Philippines from Japanese investors during President Marcos' trip here.

BBM in Japan Kapihan.jpg
President Ferdinand 'Bongbong' Marcos Jr. (Photo courtesy of Yummie Dingding/PPA Pool)

President Marcos disclosed that new memorandum of understandings (MOUs) were signed on Monday, Dec. 18, covering the investment pledges.

These business deals, he said, were from nine companies on various sectors such as semiconductor, healthcare, infrastructure development, security, and agriculture.

"Some of these are extensions of already existing contracts, mag expand lang sila ng operations nila (they will only expand their operations)," Marcos said in an interview with Manila-based reporters.

"But the more important part is 200,000 plus new jobs," Marcos added.

Meanwhile, more than 20 plus companies gave updates to the President of their pledges from his trip last February.

According to Presidential Economic and Investments Adviser Frederick Go, P169-billion investment pledges from Marcos' trip earlier this year have been actualized.

Marcos also said that "many of these projects and investments brought to the country "are not only for the Philippine market, they are also for foreign market, which, he said,  will also improve the country's external balance.

The Chief Executive has met with Japanese businessmen on the last day of his stay here to follow up on the deals secured during his February trip.

He expressed elation over the outcome of the meeting, saying that "they are able to stay within schedule."

"I just came now from another meeting with Japanese corporations, private sector  partners. Some who are already in the Philippines, some are thinking of going to the Philippines although most of them have involvement already," he told reporters.

"I'm happy to say maganda naman ang takbo kung ano ang kanilang plano (that the plans are running smoothly), Japanese generally are very efficient so they are able to stay within schedule," he added.

Marcos concluded his Tokyo trip on Monday and will be flying back to Manila on Monday night.

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ASEAN-Japan Commemorative Summit BBM in Japan investment pledges President Marcos
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