At least 10 investment deals involving Japanese and Filipino companies are expected to be sealed during Duterte’s visit to Tokyo this month.
Trade and Industry Secretary Ramon Lopez said these private business ventures from Japan will focus on the areas of electronics, manufacturing, technology, energy, tourism, and transportation in the country.
Lopez could not yet give the amount of the upcoming business agreements but said it would likely be “substantial.”
“So far we have two memoranda of understanding and eight letters of intent, in other words companies that are already here that are intending to expand their operation, invest more, expand the operations,” he said.
“These are big Japanese companies na we cannot also ignore, they still want to express their support and confidence for the current administration and they want to indicate their intent to invest more,” he said, adding the number of business deals may still increase.
Duterte is scheduled to visit Japan mainly to attend the Future of Asia international conference organized by Nikkei later this month. The forum will take place on May 30 to 31.
Lopez said the President’s meetings with Prime Minister Shinzo Abe and the Japanese business community are still being finalized. (Genalyn Kabiling)