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Manila Bulletin devider Business devider Government urges Japanese investors to expand in Philippines

Government urges Japanese investors to expand in Philippines

Published Jun 19, 2024 05:52 am

The Marcos administration’s economic team encouraged major Japanese companies to strengthen their technology expertise in the country to spur industry development and economic growth.

On the sidelines of the Philippine Economic Briefing in Japan, the economic team engaged with top executives of Sojitz Corporation, Mitsubishi Corporation, Murata Manufacturing Co., Ltd., and Sumitomo Corporation, to expand their presence in the country.

Sojitz is involved in a wide range of global businesses, including manufacturing, selling, importing, and exporting various products.

They operate diverse businesses, from commodities trading to several investment projects in agriculture, food, telecommunication, infrastructure, property development, automotive, and mining.

Mitsubishi, on the other hand, is a global integrated business enterprise involved in project development, production, and manufacturing.

In the Philippines, the firm handles the export and import of various products, consumer market activities, as well as infrastructure and renewable energy development.

Murata Manufacturing specializes in research and development, manufacturing, and sales of ceramic-based electronics. It also has a factory in Batangas, its largest factory in Asia that is intended for producing multilayer ceramic capacitors.

Sumitomo engages in multifaceted business activities, including product and service sales, import and export, and both domestic and international business investment.

Its first investments in the Philippines include the First Philippine Industrial Park in Batangas, which hosts approximately 150 manufacturing industries, and the country’s railway projects, including MRT-3, LRT-1, the Metro Manila Subway, and the North-South Commuter Rail.

The Philippine delegation to Japan was led by Secretary Ralph G. Recto, who was joined by Office of the Special Assistant to the President for Investment and Economic Affairs Secretary Frederick D. Go, Department of Budget and Management Secretary Amenah F. Pangandaman, National Economic and Development Authority Secretary Arsenio M. Balisacan; Department of Trade and Industry Secretary Alfredo E. Pascual, and Department of Transportation Secretary Jaime J. Bautista.

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Department of Finance (DOF) economic team ralph recto Mitsubishi Corporation
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