Finance Secretary Carlos Dominguez III said the government wants a stronger cooperation with Japan, as the East Asian nation plays a very important role in the Philippine economy’s rapid expansion over the years.
Dominguez made the statement during his bilateral meeting with Japanese Foreign Affairs Minister Toshimitsu Motegi at the Department of Finance headquarters in Manila.
“We look forward to every meeting with senior cabinet members of our development partners. Our economy is moving at a fast pace, and we are eager to keep this momentum through increased cooperation with Japan,” Dominguez said.
Dominguez said Japan is the Philippines’ leading source of official development assistance which helped the government complete some of the most vital infrastructure projects, beginning with the Japan-Philippines Friendship Highway that links the whole archipelago.
“We appreciate Japan’s steadfast commitment to the Philippines’ development. Japan’s support, in fact, increased significantly over the past few years. Since President Rodrigo Roa Duterte assumed the presidency in July 2016, we have signed 10 loan agreements with the government of Japan. These loan agreements are to finance big-ticket infrastructure projects crucial to our country’s competitiveness,” Dominguez said.