Duterte’s Ja­pan trip ex­pected to se­cure 10 busi­ness deals

Sun Star Bacolod - - Business -

AT LEAST 10 busi­ness deals are ex­pected to be signed be­tween the Philippine­s and Ja­pan dur­ing Pres­i­dent Ro­drigo Duterte’s third visit to Tokyo in late May.

Trade Sec­re­tary Ra­mon Lopez re­vealed this on Thurs­day, May 16, say­ing the busi­ness agree­ments would al­low ex­ist­ing Ja­panese firms in the Philippine­s to ex­pand their op­er­a­tions in the fields of elec­tron­ics, man­u­fac­tur­ing, data an­a­lyt­ics, ser­vices, man­u­fac­tur­ing, energy, tourism and trans­porta­tion.

“So far, we have around two [mem­o­randa of un­der­stand­ing] and eight na let­ters of in­tent. In other words, com­pa­nies that are al­ready here that are in­tend­ing to ex­pand their op­er­a­tion, in­vest more, ex­pand the op­er­a­tions. Th­ese are big Ja­panese com­pa­nies we can­not also ig­nore,” the Trade chief said.

“They still want to ex­press their sup­port and con­fi­dence for the cur­rent ad­min­is­tra­tion and they want to in­di­cate their in­tent to in­vest more. So that’s so far what we’re get­ting,” he added.

Lopez noted that the num­ber of busi­ness deals may still go up.

He, how­ever, could not pro­vide ball­park fig­ure of the to­tal po­ten­tial in­vest­ments in the Philippine­s.

The Trade chief was con­fi­dent that the trade re­la­tions be­tween the Philippine­s and Ja­pan would fur­ther im­prove, fol­low­ing the im­pend­ing sign­ing of the deals.

“La­long lalakas itong [trade re­la­tions ng Pilip­inas at Ja­pan], two-way (The trade re­la­tions be­tween the Philippine­s and Ja­pan. It’s go­ing to be mu­tu­ally ben­e­fi­cial for the two coun­tries),” Lopez said.

Duterte is sched­uled to fly to Ja­pan to par­tic­i­pate in the 25th In­ter­na­tional Con­fer­ence on the Fu­ture of Asia on May 30 10 31.

Lopez said the Pres­i­dent, in a key­note speech, is ex­pected to en­cour­age Ja­panese com­pa­nies to in­vest in the Philippine­s.

“I’m sure he will be talk­ing to the busi­ness sec­tor, so all the gains I’m sure the S&P credit rat­ing up­grade, the re­forms that we are do­ing and we will con­tinue to do es­pe­cially with the new Congress, the new Sen­ate, and th­ese are re­forms that will def­i­nitely at­tract more in­vest­ments and en­tice more in­vest­ments,” he said.

“More im­por­tantly, of course, the se­cu­rity as­pect is re­ally im­por­tant be­cause sta­bil­ity, se­cu­rity, is im­por­tant in at­tract­ing also in­vest­ments. His pas­sion to stop all cor­rup­tion, that’s al­ways his com­mit­ment to in­vestors so I’m sure he will also high­light that,” he added./sun­star Philippine­s

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