JAPANESE corporations have expressed interest in strengthening their partnership with the Philippines for its “high-level” economic growth that makes it an attractive investment destination, Malacañang said yesterday.
According to the Presidential Communications Office (PCO), Japanese Chamber of Commerce and Industry (JCCI) chair Ken Kobayashi has said that the Philippines’ “stable and high-level economic growth in recent years” have attracted Japanese investors to develop their operations in the country, expecting increased workforce population and domestic demand.
“In the Socioeconomic 8-Point Agenda that you have announced, Mr. President, prioritizes social security and the development of human capital. Also, it establishes the investment promotion, strengthening of digital infrastructure, the promotion of green economy, and so forth, through which you are aiming at expanding and creating jobs. And it is expected that in these fields that we can see the further promotion of the cooperation between our two countries,” Kobayashi said during JCCI’s courtesy call on President Ferdinand Marcos Jr. in Malacañang.
Kobayashi said JCCI decided to visit the Philippines first after resuming sending economic missions to foreign countries since the coronavirus pandemic.
This mission is composed of around 70 members representing the top management of the Japanese corporate world.
Kobayashi said JCCI is the largest business organization in Japan, having 1.25 million companies ranging from big corporations to small- and medium-sized enterprises. The chamber also comprises 515 local chambers across Japan.
Marcos, in return, acknowledged Japan’s continuing assistance to the Philippines in terms of infrastructure development. He pointed out that the country is currently facing a new economy and that new technologies have to play part in the transformation of the global economy.
Aside from pushing infrastructure development, renewable energy, digitalization, telecommunications, the President said the Philippines is also prioritizing agriculture and climate change adaptation. (GMA Integrated News)
