SECURING INVESTMENTS. President Ferdinand R. Marcos Jr. on Thursday (Feb. 9, 2023) assures Japanese investors of their "continued and smooth operations" in the Philippines. Marcos made the commitment during his roundtable meeting with the top executives of Japan-based semi-conductor, electronics and wiring harnesses companies at the Okura Hotel in Tokyo, Japan. (Screenshot from Radio Television Malacañang)
MANILA – The Philippine delegation to Japan headed by President Ferdinand R. Marcos, Jr. is expected to bring home many significant gains when they return to the country on Feb. 12, House Speaker Ferdinand Martin Romualdez announced on Thursday afternoon.
According to the House leader, at the rate it is going, the 5-day-stretch working visit of the President’s team to Japan would be more fruitful in terms of investments and other economic boosters that will come in, as manifested during his earlier meeting with the Japanese business sector representatives.
On just the second day of the visit, Romualdez, who is part of the delegation, noted that the President has already cornered billions of pesos during the round table meeting on Thursday morning with top executives of Japan-based semiconductor, electronics, and wiring harness firms.
The Speaker also believed that President Marcos’ trip to Japan will further improve the overall trade and economic relations between the two countries.
“The President is really working hard to promote the Philippines to Japanese investors and businesses. And with the warm reception he is receiving, I am confident that he would achieve more significant gains in the few remaining days of his working visit to Japan,” Romualdez said.
In another development, the House Speaker likewise noted that tourism stakeholders in Japan have shown keen interest in the President’s presentation during a separate meeting outlining the Philippine government’s initiatives meant to lure more Japanese tourists to come and visit the Philippines.
At present, Japan ranks sixth among the country’s foreign visitors.
“These are encouraging developments that would eventually redound to the benefit of tens of thousands of Filipinos, in terms of new jobs and business opportunities that would further drive our economic growth,” Romualdez said.
The Speaker was among the Philippine government officials present during the two meetings, and also at the dinner Wednesday night hosted for the Philippine delegation by Mitsui & Co. and Metro Pacific Investments Corporation.
During dinner, Romualdez noticed that many Japanese businessmen and executives were so inquisitive about business and investment opportunities in the Philippines and also about the country’s strong economic performance, despite the pandemic.
President Marcos earlier said the participation of lawmakers in his foreign trips is crucial in his effort to attract more foreign direct investments to the country since they could immediately address concerns prospective investors may have on existing rules as well on pending legislation that may impact the country’s business climate.
Among the pending matters in Congress that may be of interest to Japanese businessmen include the House-approved Maharlika Investment Fund, which is currently under deliberation in the Senate.
There are also several bills under consideration of the House which are proposing amendments to the 1987 Constitution to remove restrictive economic provisions and open up the country to the entry of foreign direct investments, thereby creating more job opportunities and spur economic growth.
President Marcos’ remaining activities before heading home on Feb. 12 include a one-on-one meeting with Japanese Prime Minister Fumio Kishida, wherein the two leaders are set to sign key deals in the areas of humanitarian assistance and disaster relief, infrastructure, agriculture, and digital cooperation.
The First Couple is also scheduled to have a short meeting with Emperor Naruhito and Empress Masako. (PNA)
