The billions worth of investment pledges that the Marcos administration has secured from Japanese firms are expected to generate 10,000 jobs for Filipinos, Malacañang announced on Thursday, February 9.
In a press statement, the Presidential Communication Office (PCO) said the Japanese firms in the semiconductor and electronics industries pledged the investment during a roundtable meeting with President Ferdinand 'Bongbong' Marcos Jr.
The PCO said among the firm that attended the roundtable meeting are chief executives of Japan Aviation Electronics Industry, Ltd.; Yazaki Corporation; Yokowo Manufacturing of the Philippines; Sumitomo Electric Industries, Ltd.; Brother Industries, Ltd.; IBIDEN Co., Ltd.; Seiko Epson Corporation; NIDEC-SHIMPO Corporation; and TDK Corporation.
Marcos Jr. flew to Japan on Wednesday afternoon to conduct a working visit.
"The total amount of investment commitment will be announced by the President tomorrow, February 10, during the signing of the letters of intent by the Japanese companies," it said.
According to the PCO, Marcos told the Japanese investors that he aspires for the Philippines to become “hubs of excellence for sectors where we have a natural comparative advantage."
The chief executive added that he wanted the country to attain "the status as a regional hub for printers, wiring harnesses, and other electronic goods."
