The Philippines has numerous comparative advantages that can attract more investments from Japan, according to the Japan External Trade Organization.
JETRO representatives made the observation during the information session organized by the Board of Investments for investment promotion agencies.
“The Philippines still has much to offer to Japanese companies,” said JETRO Manila executive-director Kazuo Nakamura in presenting the organization’s perspective in attracting Japanese foreign direct investments into the country beyond the pandemic.
“Apart from the young and English-speaking workforce which is one of the many reasons why the Philippines remains to be an attractive investment destination for Japanese, the Philippines remains an attractive investment destination with its business-friendly environment and game-changing, liberalized laws and policies,” Nakamura said.
He cited the recent economic policy reforms such as the amended Retail Trade Liberalization Act, Foreign Investment Act and Public Service Act.
Tomohiro Ando, investment and EPA advisor of JETRO Manila, presented the comparative advantages of the Philippines, ways of targeting Japanese manufacturing companies, designing effective statistical data presentations for Japanese investors and practical tips to make information available for Japanese investors.
Ando also presented the various concerns of JETRO affiliates in countries in Asia and Oceania.
Ando said that when it comes to the quality of employees, the situation in the Philippines is better compared to other countries.
BOI director Maria Rosario Dominguez underscored the importance of the info session for IPAs, as it provides significant insights about attracting Japanese companies to invest in the Philippines, as Japan is “one of the main target investors and key markets”.
“We must get as much information from our stakeholders to help us direct our efforts and judiciously tap resources in eyeing and getting quality investments in priority and focused sectors which will impact the investment landscape of the Philippines,” Dominguez said.
“JETRO provided us first-hand knowledge on how to effectively attract Japanese investors into the country to make the Philippines an investment destination of choice,” BOI executive-director Eries Cagatan said.
Founded in 1958, JETRO is a government-related organization that works to promote mutual trade and investment between Japan and other countries.
