TOKYO, Japan — Japanese firm Marubeni has reaffirmed its partnership with the Philippines, renewing its commitment to the country’s renewable energy, water, and transportation sectors.

This came after President Ferdinand “Bongbong” Marcos Jr. met with Marubeni executives, led by its chief executive officer, Kakinoki Masumi on Friday, here.

In his remarks, the Japanese business leader said his firm is in talks to set up new facilities in the Philippines.

“In addition to the traditional generation system, we are very much committed to increasing renewable energy like mini-hydro, solar, and wind project and we are discussing with your country, our local partner to develop such kind of new facilities,” Kakinoki told Marcos.

He added that the firm has also been leading the charge in “providing water in the communities in the western part of Metropolitan Manila.”

“So, we’re very happy to be involved in this project also,” Kakinoki said, assuring the President that Marubeni would step up its partnership with the Philippine government in infrastructure-related business.

He likewise thanked Marcos for the solid partnership and the chance to help more Filipinos by providing jobs and business opportunities.

“We are very grateful to have given such an opportunity to be involved in the basic infrastructure of your country,” Kakinoki said.

President Marcos, for his part, noted Marubeni’s “very, very high” profile in the Philippines.

The relationship of the Philippines with Marubeni extends beyond the corporate and government-to-government partnership, he added.

“It’s a long-standing friendship, I think, at a very personal level,” Marcos said.

Tokyo Gas investment

Meanwhile, President Marcos Jr. expressed his delight over the investment made by Tokyo Gas Co. Ltd. to boost the energy requirement of the Philippines

In his meeting with Tokyo Gas officials, led by its president and CEO Takashi Uchida, and First Gen chairman and CEO Federico “Piki” Lopez, the President said the Philippines has been looking at going into a mix of renewable energy and traditional sources of energy to meet the growing demand of industries as well of the households in the country.

First Gen is expected to start commercial operations of its LNG terminal in Batangas by June. The Lopez firm forged an 80-20 partnership with Tokyo Gas.

"And so we are encouraged that in view of Tokyo Gas that it is worth the investment then we feel that we are going down the right path for our country's energy mix and we are grateful for that vote of confidence that you have shown by your investment in the future of the Philippine economy, the future, especially of our energy supply from liquefied natural gas (LNG)," he said.

President Marcos also noted that LNG has been playing a large role in the country's energy mix since 2017.

"And this was even before it was decided that LNG would create this large role in our energy mix because we are very much talking about the mix between renewables and traditional at the time,” he said.

“But now we are here now and certainly that is the most critical part of our plans for the future," he added.

President Marcos noted that the country would have to wait for six to seven to reap the benefits of renewable energy because putting up the infrastructure for such projects would take time.

"We are generally speaking six, seven years... and the question is what do we do in the meantime? We are examining the possibility... of course take more traditional wind and solar power, geothermal, all of these. But it will take time to come into play because the infrastructure has to be put in place," the President said.

"That's why we are doing all we can to find ways to further— to encourage extraction of LNG," he added.

President Marcos, along with other Philippine government officials and business leaders, is currently in Japan for a five-day working visit.