Japanese companies are exploring investment opportunities in the Philippines, as they seek new destinations for investments outside China.
Members of the Philippine Chamber of Commerce and Industry in Japan and Philippine Chamber of Commerce and Industry met Wednesday to exchange views and discuss business opportunities between the two countries.
The PCCIJ said the Philippines was now getting more attention from Japanese small and medium enterprises as well as real estate investors.
Most members of PCCIJ shared notes on economic and market updates particularly on foreign direct investments.
The PCCIJ sad the tourism activities between Japan and the Philippines had started improving since the Japanese government implemented measures that relaxed temporary visa processing.
The PCCIJ became an affiliate member of PCCI on June 9, 1976.
The group has also become a window for investment opportunities to the Philippines by Japanese companies.
Chairmanship of the group has been shared among Filipino and Japanese members. The current president is Kan Shigematsu who is the managing director of the Philippine National Bank in Tokyo.
The group now has 27 corporate members that include Philippine companies like the Philippine Airlines, ABS-CBN, Philippine National Bank, Metrobank and ASJ-Ayala System Japan while Japanese companies are mostly SMEs that are interested to go into partnership with Philippine counterparts.
It also has eight individual Filipino and Japanese members.