President Rody Duterte signed 26 agreements worth ₱288.8 billion during his three-day visit to Japan. The investment pledges, which are seen to create 82,737 jobs for Filipinos, cover the infrastructure, manufacturing, electronics, transport and automotive sectors, among others.
Lopez said 26 business agreements on the areas of infrastructure, manufacturing, electronics, medical devices, business process outsourcing (BPO), power, electricity, transport, automotive, food manufacturing, and marine manpower industries would be signed at the sidelines of Duterte’s visit here.
“The Department of Trade and Industry is consistently pursuing investments from all countries to provide decent employment opportunities to Filipinos. This is part of President Duterte’s Tapang at Malasakit approach to nation-building and DTI’s priorities, summed up as Trabaho, Negosyo, Konsyumer,” Lopez, who will witness the signing of the business agreements, said in a statement.
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The trade chief said, “Japanese investors remain bullish on the sustained growth momentum under the administration of President Duterte, given its aggressive infrastructure build-up, meaningful investment and financial reforms and demographic advantages.”
In 2018, Japan was the Philippines’ second major trading partner with total trade at US$20 billion: US$9.5 billion-worth of exports to Japan, and US$10.5 billion-worth of imports from Japan.
Tokyo is the Philippines’ third major export market and import supplier.
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Source via Inquirer, Philippine Star
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