By Monsi A. Serrano
Photos by Manuel N. Roma, Jr.
Through this global health crisis, Japan is proving to be an enduring and stable partner of the Philippines in growing business in the country and Ambassador Koshikawa Kazuhiko assured that it’s not about to change.
Speaking to THEPHILBIZNEWS, Amb. Koshikawa said Japanese companies are proud to be doing business in the Philippines and we are very happy working with your people,” he said.
If it’s any indication of their trust in the Philippine economy, there remains to be 133 Japanese companies operating in the country amid the pandemic.
Amb. Koshikawa said 59 of these firms are engaged in manufacturing, while the other 74 are into non-manufacturing enterprises.
In comparison with pre-pandemic 2019, there were 139 Japanese firms in the Philippines – 73 of them manufacturers and 66 non-manufacturers.
Without denying the fact that the pandemic has made an adverse impact on all businesses in general, Japanese firms in the Philippines did not abandon their stakes in the country although some have shifted from manufacturing to retail and distribution.
Amb. Koshikawa said he believes in the great potential of the Philippines to bring in more foreign investors.
“I am sure as I continue my stint in the Philippines, I am hoping to bring more Japanese investors and at the same time be able to discuss with the economic managers how to attract more Japanese investors,” he said.
“However, there is a need to develop more favorable investment environments, particularly in the regulatory system, human resources, and infrastructure”, said the ambassador.
“The Philippines needs to develop a value chain (to entice more investors),” he said.
Amb. Koshikawa gave a positive review of the Duterte Administration’s “Build, Build, Build” program, noting how it opens big opportunities for infrastructure investments.
“Infrastructure is the next investment prospect,” he said, adding that Japan has been helping in this area of development in certain ways.
“This (Build, Build, Build) also covers the improvement of infrastructures and irrigation to help the farmers, and Japan government has been helping with the irrigation,” he noted.
Earlier, Koshikawa told THEPHILBIZNEWS that it is Japan’s interest to have regional security and economic stability in the region and assured continued support for the Philippines in this aspect both as an economic and security ally.
https://thephilbiznews.com/japans-ambassador-expects-closer-cooperation-with-phl/
“We want to share more opportunities with the Philippines, because we are like brothers,” he said. “Japan and the Philippines will continue our cooperation especially now in the time of the pandemic.”
