Japan firms invited to double investments

Trade Secretary Ramon Lopez encouraged Japanese companies to increase, if not double their investments in the Philippines particularly in the manufacturing and services sectors.

Lopez, speaking at the Sumitomo Mitsui Banking Corp. Group Japan Virtual Roadshow, highlighted the industries where Japanese investments would likely thrive and have a good run on their investments.

“There is wide scope of business opportunities for prospective and existing Japanese investors, particularly in manufacturing, construction, services and renewable energy, among others,” he said Tuesday during the forum.

“We are also happy to note that there are Japanese electronics companies in the Philippines that have been with us for more than 20 years such as ROHM, Sharp (41), Panasonic, Tsukiden, Nidec, Epson, and Canon,” he said.

Among the industries he highlighted are the semiconductor and electronics industry; medical devices electronics manufacturing; and electronics manufacturing services and original design manufacturing.