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Tuesday, March 5, 2024

‘PBBM Japan trip to bring in P150b, 8k jobs’

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Says embassy in Tokyo

President Ferdinand R. Marcos Jr.’s working trip to Japan is seen to generate P150 billion in investment pledges that could employ about 8,000 Filipinos, the Philippine Embassy in Tokyo said Tuesday.

Philippine Ambassador to Japan Mylene Garcia-Albano, in an ANC interview, said several letters of intent and agreements “to significantly expand Japanese investments” in the Philippines would be signed during the visit.

“We are expecting that substantial returns in terms of new projects, the value of which we currently estimate at 150 billion pesos and we estimate too that this will generate employment for 8,000 Filipinos,” she said.

Marcos will deliver a keynote address during a Philippine Business Opportunity seminar to be attended by “hundreds of top Japanese businessmen.”

He will also meet with chairpersons and top executives of electronics, semiconductors, printers and wiring harness manufacturing companies at a roundtable meeting, Garcia-Albano said.

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During the meeting, ways to ensure the success of these businesses in the Philippines will be discussed.

Marcos will be in Japan for an official visit from Feb. 8 to 12.

The DFA earlier confirmed that the two nations would also ink seven key bilateral agreements, covering infrastructure development, defense, agriculture, and information and communications technology.

Among the documents to be signed is the exchange of notes on the loan agreements on the North-South Commuter Railway (NSCR) from Malolos to Tutuban and the NSCR extension.

This will involve about $3 billion worth of loans that will later be signed by the Department of Finance.

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