Ja­pan deals

Sun Star Bacolod - - Opinion -

T HE Philip­pine del­e­ga­tion stag­gers with a bag­ful of in­vest­ments and trade deals worth P288.804 bil­lion in Pres­i­dent Ro­drigo Duterte’s visit to Ja­pan Wed­nes­day, May 29, 2019.

Re­ports said these in­clude a me­moran­dum of co­op­er­a­tion, a joint ven­ture agree­ment, a mas­ter fran­chise agree­ment, a fran­chise agree­ment, three mem­o­randa of un­der­stand­ing, and 19 let­ters of in­tent.

The Philippine­s’ Depart­ment of Trade and In­dus­try and Ja­pan’s Ex­ter­nal Trade Or­ga­ni­za­tion signed a bi­lat­eral co­op­er­a­tion agree­ment on in­vest­ment pro­mo­tion ac­tiv­i­ties.

In the loot bag of in­vest­ments is also a joint ven­ture be­tween the Bases Con­ver­sion and De­vel­op­ment Au­thor­ity and Mer­alco Marubeni Con­sor­tium to fi­nance, build, de­velop and main­tain the elec­tric power dis­tri­bu­tion sys­tem in New Clark City.

Agree­ments were also reached for ex­pan­sive fran­chise of two food chains, Ja­pan’s Do­hton­bori Okonomiyak­i and Karayama.

An­other me­moran­dum of agree­ment was also inked among Ad­vanced World Sys­tems Inc., Al­sons/aws In­for­ma­tion Sys­tems Inc., and Ubi­com Hold­ings Inc. for the out­sourc­ing of projects re­lated to soft­ware de­vel­op­ment, test­ing and main­te­nance.

These are just some of the ma­jor deals in the pipe­line. The other ma­jor agree­ments in­clude in­vest­ments on indoor theme parks, amuse­ment fa­cil­i­ties, bak­ery com­pa­nies, flour milling, credit and fi­nance, mil­i­tary tech­nolo­gies, ship build­ing and liq­ue­fied nat­u­ral gas, among oth­ers.

The 26 projects are seen to gen­er­ate 82,737 jobs in the Philippine­s.

The deals au­gur well for the Philip­pine econ­omy while the coun­try braces for its “Build, build, build” pro­grams.

The next step would be per­haps for gov­ern­ment to cre­ate more mech­a­nisms for in­clu­sive growth. Not only in mat­ters of pro­vid­ing jobs, but also in en­hanc­ing the pur­chas­ing power of its cit­i­zens./ Sscebu

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