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PH, Japan firms inked 35 investment deals on infra, healthcare, others
PH, Japan firms inked 35 investment deals on infra, healthcare, others
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PH, Japan firms inked 35 investment deals on infra, healthcare, others
by Christhel Cuazon10 February 2023
Photo courtesy: Office of the President

Thirty-five investment deals on infrastructure, energy, manufacturing, and healthcare have been signed between the Philippines and leading Japanese firms during the working visit of President Ferdinand 'Bongbong' Marcos Jr. in the foreign country.

According to the Palace, Marcos witnessed the signing of Letters of Intent (LOI) on investments and agreements, seen to further bilateral relations between the Philippines and Japan.

Among the business deals inked were wiring harness manufacturing expansion project with Asti Corporation; a printer manufacturing expansion project with Brother Industries Ltd.; a hotel construction project with DoubleDragon Corporation and IwataChizaki Inc.; and a factory expansion project with Japan Tobacco Inc.

Also included in signed were LOIs for a new factory for autoparts with Kurabe Industrial Co, Ltd.; energy, transportation, healthcare, and afforestation projects with Marubeni Corporation; and automobile manufacturing expansion project and a commitment renewal to meet production targets with Mitsubishi Motors Corporation.

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In his speech, Marcos thanked Japanese firms and partners for “considering the Philippines as a place and as a partner to grow your businesses.”

"The government of the Philippines has been working to deepen the confidence in the Philippines of foreign investors and companies,” the President said.

"And it is our hope that companies such as yours will not only find the Philippines to be an attractive investment destination, we are designing our efforts to encourage you to stay and find our country to be a place where your businesses will thrive," he added.

The 35 LOIs and agreements are as follows:

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The signing follows a day after the first bilateral meeting between President Marcos and Japanese Prime Minister Fumio Kishida at the Prime Minister’s Office in Tokyo.

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