The Philippine envoy to Tokyo has called on the business community in Japan to "ride the waves of opportunities" and "invest in the Philippines" as she cited the country's projected growth in the post-pandemic world.
Speaking at a business forum held by International Friendship Exchange Council (FEC) in the Japanese capital, Philippine Ambassador Mylene Garcia Albano highlighted the country's consistent gross domestic product (GDP) growth performance and the strength of the Filipino workforce, according to the Department of Foreign Affairs (DFA).
She also noted the vast market potential that the Philippines offers, considering its sizable middle-class population and its strategic location as Japan’s gateway to the Southeast Asian market.
To further persuade the Japanese businessmen, Commercial Counsellor Dita Angara-Mathay presented the country's conducive business environment and favorable investment climate brought about by game-changing reforms in tax incentives and economic liberalization.
She also highlighted the Philippines' comparative advantages with its rich talent pool, competitive human resource costs, strategic access to key markets, IT infrastructure and intellectual property protection, among others.
Yoshiki Onoi, vice chair of FEC's Japan-ASEAN Cultural and Economic Exchange Committee, expressed confidence in the Philippines' potential as an investment destination for Japanese companies.
He described the Philippines as "an attractive country of outstanding economic potential," the DFA said.
About 25 individuals, primarily the C-suite officials of various companies, who participated in the forum eyed investments in the Philippines, DFA said.
These companies represent a broad range of industries, including medicine, energy, manufacturing, agriculture, defense, disaster response, health and beauty, business consulting and hospitality, among others.
In February, Japanese Ambassador to the Philippines Koshikawa Kazuhiko expressed hope that the Philippine economy "will show top-class growth" among its Asian neighbors and will "attract more Japanese investors in the coming years."
Kazuhiko's expectations were based on the basic policies that President Ferdinand "Bongbong" Marcos Jr. "clearly laid out" for the Philippine-Japan relations.
"Our bilateral ties are poised to reach even greater heights, especially in the areas of economics, defense and people-to-people exchanges," Kazuhiko said.
During his visit to Japan, Marcos wooed Japanese businessmen to invest more in the Philippines, which he said has "a lot more to offer" in terms of ease of doing business.