The National Development Company, an investment of the Department of Trade and Industry signed a memorandum of understanding with Yachiyo Engineering Co. Ltd. of Japan to explore business opportunities and collaborate on creating value on engineering and design services in the Philippines.
Based on the MOU, the agreement will run its course for a year which became effective when the two parties signed the MOU on June 6, 2023.
YEC intends to further expand its business activities and services in the Philippines, including promotion of applicable Japanese technology and solutions to contribute to the Philippines’ infrastructure sector and socio-economic development.
NDC and YEC had a meeting in Tokyo, Japan in line with the state visit of President Ferdinand Marcos Jr. in February 2023. The two firms discussed mutual interests and business opportunities in the Philippines with potential for collaboration.
The MOU intends to explore cooperative ways to expand and promote business and project opportunities in the Philippines, which is expected to contribute to the strengthening of bilateral relations between the two countries.