Osaka-based manufacturers pitched on locating in PHL

THE Department of Trade and Industry (DTI) said that Osaka-based manufacturing companies were invited to establish or expand operations in the Philippines, following the recent visit of a delegation from the Osaka Chamber of Commerce and Industry (OCCI).

“We are optimistic about the future with our Japanese partners participating in the industrialization process,” Trade Secretary Alfredo E. Pascual told the delegation.

“I’d like to reaffirm the commitment of the government for an inclusive business environment, particularly for foreign investments,” he added.

Mr. Pascual said the Philippines has been receiving significant interest from Japanese firms for investment and expansion. These include manufacturing companies bringing in components of their supply chain for the manufacturing of products for the Japanese market.

Osaka-based companies in the Philippines manufacture pressed component parts, precision plastic parts, medical, glass, pharmaceutical, and consumer electronic products.

“Some of the notable Osaka-based companies operating in the Philippines are Showa Spring Co. Ltd., OB Kogyo, Ltd., Nipro Corp., Sharp Corp., and Panasonic Corp.,” the DTI said.

The DTI said OCCI Chairman Shingo Torii is particularly interested in discussions regarding the expanding startup sector in the Philippines.

“The Philippines is looking forward to engaging more small and medium enterprises from Japan for further success stories about investing in the Philippines,” Trade Undersecretary Ana Carolina P. Sanchez said.

In a separate statement, the DTI’s Competitiveness and Innovation Group, the Board of Investments, and Singapore’s Heal Venture Lab said they signed a memorandum of understanding (MoU) to conduct a competition to find innovative biotechnology and medical device applications.

“This marks a significant milestone in the advancement of the Philippine biotech sector, and I extend my heartfelt appreciation to our esteemed MoU partners for their steadfast support,” according to Trade Undersecretary and BoI Managing Head Ceferino S. Rodolfo.

“As the foremost investment promotion agency in the nation, BoI advocates for the boundless potential of biotechnology,” he added.

Through the partnership, the three entities are looking to support investment opportunities in biomedical innovation, as HVL Managing Partner Jaemin Park sees ample talent in the Philippines.