Phl-Japan ties valuable for post-pandemic era
The country’s good stance regarding friendship and enhanced trading partnerships with the government of Japan is an advantage towards the post- pandemic era, Trade Secretary Ramon Lopez said on Tuesday.
In the 6th Philippines Japan Business Investment Virtual Forum 2020 themed, “Philippines-Japan Sustainable Partnership after COVID-19 Pandemic: Opportunities for Digital Transformation and MSME Collaboration,” Lopez noted that the Philippines has been recognizing the importance of its partnership with Japan, to build back better even during the post-COVID era.
“With decades-long friendship and partnership, Japan continues to be one of our biggest trading partners and investors. Last year, Japan was the Philippines’ 2nd major trading partner, 2nd export market and 2nd import supplier,” the Trade chief explained.
He also expressed that on the investment side, Japan was the Philippines’ 4th major source of approved investments in 2019.
“We have reviewed the list of Japanese investments in the pipeline and we are encouraged by the strong interest in the areas of manufacturing, such as wiring harness, electronics, medical devices, renewable energy, and even in retailing and infrastructure development,” Lopez said.
Investment opportunities
As poised by its newly-launched investment campaign dubbed “Make It Happen in the Philippines,” he has outlined investment opportunities that the Japanese investors might want to explore in the country.
With decades-long friendship and partnership, Japan continues to be one of our biggest trading partners and investors.
“The Philippines is a strategic partner for Japan in the manufacturing industry for electronics, automotive, aerospace and chemicals. Other preferred areas are in the manufacture of healthcare products such as medical devices, personal protective equipment (surgical masks, medical coveralls), pharmaceuticals, food, packaging and construction materials (iron and steel) including cement. We also welcome new Japanese investments in shipbuilding and infrastructure projects where there is a government push via President Rodrigo Roa Duterte’s ‘BUILD, BUILD, BUILD’ Program,’” the Trade chief noted.
He emphasized that for services, the Philippines has been collaborating with Japan in animation, engineering and architectural design.