The Philippine delegation secured around P51 billion worth of investments during its trip to Osaka, Japan, last week, according to Department of Trade and Industry (DTI) Secretary Cristina Roque.
The bulk of the investments, amounting to P34 billion, is from the operator of the world’s largest karaoke chain, Koshidaka Holdings Co., Ltd., which intends to open 300 outlets over the next 10 years.
In a press release Monday, Roque said this particular investment is projected to generate over 1,500 direct jobs and support thousands through construction and supply-chain activities.
Another conglomerate, Marubeni Corporation, committed P15-billion investments for real estate, financial technology, healthcare, and afforestation.
Sojitz Corporation, a general trading corporation, will also invest P2 billion to P3 billion in a property developer to attract firms that are into artificial intelligence, semiconductor design, software, and healthcare, and expressed interest in aviation-related projects.
Roque said Mitsui & Co., a major Japanese trading company, will expand its existing investment in the Philippines after it reaffirmed its partnership with Metro Pacific Investments Corp. and Steel Asia for a steel recycling entity targeted to support decarbonization bid.
“These commitments in green energy, smart housing, healthcare, and creative services highlight the strength of our partnership with Japan. DTI and the Economic Team will work together to ensure these projects generate quality jobs, strengthen supply chains, and advance the country’s shift to a green, digital, and broad-based economy,” she said.
“These investments are a testament to President Ferdinand R. Marcos Jr.’s vision for an agile, innovation-driven economy that welcomes partnerships and delivers inclusive growth.”
Special Trade Representative Dita Angara-Mathay said the presence of the high-level delegation, which includes Finance Secretary Ralph Recto, Department of Economy, Planning, and Development Secretary Arsenio Balisacan, Energy Secretary Sharon Garin, and Bangko Sentral ng Pilipinas Deputy Governor Zeno Abenoja is proof of the government’s strong resolve to attract more investors.
“Their collective participation assured investors of high-level government commitment and seamless coordination — giving confidence that these projects will be fast-tracked from commitment to execution,” she said.
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