More Japanese businesses to explore Philippine opportunities

MANILA, Philippines – The interest among Japanese manufacturers to invest in the Philippines continues to gain steam as a new group of investors are scheduled to be in the country this week to scout for business opportunities.

The Japan External Trade Organization (Jetro) said it has organized a four-day investment mission to the Philippines this week to be participated in by Japanese companies with interest for doing business in the country.

“The further Asean economic integration progresses, the more opportunities and activities are expected in various business fields in the member countries. The Philippines has enhanced its presence among them with higher rate of economic growth,” Jetro said.

“Rich human resource and generous incentives for export-oriented companies have been attracting foreign investors. In addition, steady development of domestic market is also bringing about new possibilities for them in near future,” it added.

The Department of Trade and Industry Jetro in June last year signed a memorandum of cooperation enhancing bilateral business relationship between the Philippines and Japan through promotion of direct investment.

Last month, the Osaka Prefecture Economic Mission met with the Philippine Chamber of Commerce and Industry and the Philippine Economic Zone Authority (PEZA)

The Osaka Prefectural Government (OPG) of Japan also signed an agreement with PEZA to make the latter’s economic zones a priority for overseas expansion among Osaka-based small and medium enterprises.

PEZA said the memorandum would encourage Osaka-based SMEs to make investments in manufacturing and other authorized business activities in PEZA-administered economic zones.

Arnel Paciano Casanova, president and CEO of state-owned Bases Conversion and Development Authority, said there has also been a growing interest among Japanese firms to participate in its 9,450-hectare Clark Green City project.