Japanese earmarks US$ 215M worth of investment for PH

Japanese earmarks US$ 215M worth of investment for PH
Japanese and foreign tourists waiting for the green light before crossing the world's busiest intersection in Shibuya, Tokyo, Japan (Photo By Monsi A. Serrano/THEPHILBIZNEWS)

Text and photo by Monsi A. Seranno

Tokyo, Japan – The Department of Trade and Industry confirms that Japanese investors set US$ 215M worth of investment in the Philippines.

In the statement issued by the office of the Department of Trade and Industry, the Philippine government’s new industrial policy that aims to push for innovation will strengthen the PH-Japan trade and investment relations.

During Philippines-Japan Business Investment Forum last October 28, held in Tokyo, Japan, DTI Undersecretary Rafaelita Aldaba discussed the various investment opportunities for the Philippines through Duterte administration’s Inclusive Innovation Industrial Strategy (i3S) and the areas that both PH and Japan can collaborate under this policy.

The Trade Undersecretary revealed the business opportunities that the Japanese investors are looking at right now in the Philippines are infrastructure development, railways, Electric Vehicle (EV) public transport systems, retail, manufacturing, logistics, warehousing, factory automation, construction, and real estate industries.

Another investment projects in the pipeline include the opening of PH’s first MOS Burger, Japan’s second largest burger chain, in March 2020; Assemblepoint Co., Ltd’s interest to develop smart 4WEV (4-wheel EV) using the latest IOT technologies; Japanese anime studio Satelight’s intention to outsource animation work in PH; as well as Kanepackage’s new factory facility.

Sumitomo Wiring also presented their two expansion projects in wire harness and components manufacturing. Marubeni Corporation likewise shared their joint venture project with Metro Pacific and LSI to build 30 primary care clinics, 10 cancer centers, and install five centralized laboratory testing hubs in strategic cities.

“In the context of these trade and investment trends between the Philippines and Japan along with global developments such as the entry of new technologies, we feel the need to focus our efforts on innovation to address the opportunities and challenges arising from Industry 4.0 but also from increasing global competition, US-China trade war, and regional economic integration,” said Usec. Aldaba to over 600 members of the Japanese business community.

“i3S puts innovation at the heart of our industrial policies. Our goal is to grow globally competitive and innovative industries,” she added.

The Undersecretary underscored PH’s drive to develop its innovation and entrepreneurship ecosystem through strong collaboration between and among government, academe, and industry; utilize new technologies to make the country’s industries more competitive; reduce barriers in investments; and link manufacturing with agriculture and industry to expand PH’s global value chain participation.

Meanwhile Philippine Trade and Investment Center (PTIC) Commercial Counsellor in Tokyo Dita Angara-Mathay said, “With Japan and the Philippines sharing complementing natural and human resources, technology and innovation will play a key role in helping us achieve the full potential of our economic partnership with Japan.”

“We will try to reach out to more Japanese companies specializing in among others, electrified vehicles & parts, advanced manufacturing, factory automation, mobility solutions and smart cities. Philippine startups are also seen as future drivers of innovation. More learning missions to Japan will be organized to facilitate new learnings on and establish key connections with holders of new technologies like Artificial Intelligence (AI),” the Commercial Counsellor concluded.

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