DAVAO CITY—The city government is expecting an influx of Japanese investments after the successful visit of Japan Prime Minister Shinzo Abe here last week.
“We are confident as Davao City has successfully gained more interest from the Japanese businessmen,” said Davao City Investment and Promotions Center head Lemuel Ortonio.
Ortonio said Japanese businessmen should “invest, live, and play” in the city and take advantage of Davao’s robust economy and ease of doing business.
In a video presentation, Ortonio showed the top 10 preferred investment areas in Davao, the diverse tourism activities, and priority government programs of the local government during the forum that Abe attended.
The investment areas are the agriculture business sector; tourism and recreational facilities; light manufacturing and assembly; property development; health and wellness, educational, and sports facilities; environmental protection and green projects; information and communication technology; generation of new sources of energy; transportation and infrastructure; and public-private partnership projects.
Councilor Danilo Dayanghirang, speaking for Mayor Sara Duterte during the Philippines-Japan Investment Forum held at the Waterfront Insular Hotel, said one reason for Japanese businessmen to be confident in investing in the city is the stronger peace and security programs laid down by the current administration.
At least 20 Japanese businessmen and representatives from companies such as Marubeni, Mitsubishi, Itochu, Sumitomo, Toyota, and Mizuho attended the forum.
Executives from Chodai Company Limited, Sumifru (Philippines) Corp., and Concentrix, which have all established businesses in the city, also shared their success stories to the Japanese delegation.
Trade Secretary Ramon Lopez supported the city’s pitch by presenting the country’s growth trajectory and investment opportunities. He emphasized the Philippines should be a great trade and investment partner for Japan because of its growing and stable economy, improved competitiveness and investment grade, strategic location in Asia, and human capital advantage.
Lopez likewise noted several key programs under the administration of President Rodrigo Duterte, particularly the “10 plus 1” economic agenda and the Comprehensive National Industrial Strategy.