By Chloe Mari A. Hufana, Reporter and Beatriz Marie D. Cruz, Senior Reporter
PHILIPPINE President Ferdinand R. Marcos, Jr. secured around P260 billion in investment pledges from top Japanese firms during meetings in Tokyo, as Manila seeks to draw supply-chain relocation and shield the economy from geopolitical tensions and rising energy risks.
“The Philippines is pursuing a transparent national direction: constructing an economy where infrastructure, industry, finance, human capital and connectivity move together as one system of growth,” Mr. Marcos told executives from Japanese conglomerates and financial institutions on Wednesday.
“And increasingly, we recognize that trade and tourism will probably be amongst a very powerful engines of that growth,” he added.
Of the quantity, $3.4 billion or around P210 billion are expected to support manufacturing, tourism infrastructure, renewable energy and supply-chain development.
Mr. Marcos on Thursday secured one other P53.6 billion in potential investments from Japanese firms which are planning to expand operations within the country. These investments are expected to generate around 10,300 additional direct and indirect jobs for Filipinos.
In a Facebook post, Mr. Marcos said MinebeaMitsumi, Inc. is planning to expand its investments within the Philippines, with P25 billion to be allocated for its projects in Cebu, Batangas and Bataan. MinebeaMitsumi is involved within the manufacturing of semiconductors, battery protection modules for hyperscale data centers, amongst others.
The President said he met with the executives of Furukawa Electric Co. Ltd. to debate the firm’s P17-billion expansion project within the Philippines. The project involves the production of advanced heat sink modules and thermal management products utilized in global electronics and digital infrastructure applications.
Mr. Marcos said Sumitomo Electric Industries, Ltd. pledged a P4.3-billion investment to expand their advanced electronics manufacturing operations in Laguna. This may involve the development of a brand new facility run by their Philippine unit First Sumiden Circuits, Inc., the country’s only manufacturer of flexible printed circuits.
“Their latest facility will help position the Philippines deeper into global supply chains for electric vehicles, AI (artificial intelligence)-related electronics, and advanced telecommunications,” he said.
The President also had a gathering with executives of Tsuneishi Group Corp. to debate the corporate’s planned expansion of shipyard facilities in Balamban, Cebu, in addition to the continued development of environmentally sustainable next-generation vessels.
Once the expansion is accomplished, the Philippines is predicted to turn out to be the world’s fourth-largest shipbuilding nation, after China, Japan, and South Korea. The commitments come because the Marcos administration pushes to sustain economic growth despite elevated oil prices, supply disruptions and trade uncertainty linked partly to the war within the Middle East.
Mr. Marcos used the roundtable meeting to position the Philippines as a long-term investment destination for Japanese firms searching for to diversify operations across Southeast Asia, particularly as firms reassess regional supply chains amid global tensions.
The Palace said the investments are expected to create hundreds of jobs while supporting technology transfer and industrial expansion.
Mr. Marcos assured Japanese partners of his administration’s move to enhance institutional bottlenecks and long-term investment stability.
“To all our Japanese partners, the Philippines not from reports, but from experience,” he said. “You recognize our workforce: expert, adaptable, and globally competitive… resilient in adversity, ambitious in opportunity, and increasingly connected to global trade and tourism flows.”
Mr. Marcos is in Tokyo for a state visit, the primary for a Philippine leader after 11 years. His visit coincided with the 70th 12 months of the normalization of Manila and Tokyo’s diplomatic ties.
Trade Secretary Maria Cristina A. Roque said the Philippines is targeting more high-technology and green manufacturing investments as Japanese firms boost regional production networks.
“Our message is obvious: the Philippines is open, ready, and highly able to supporting the rapid expansion and resilience of Japanese global value chains,” she said in the identical statement.
“We’re aggressively positioning the Philippines as your strategic hub in ASEAN (Association of Southeast Asian Nations) for smart manufacturing, green metals, and renewable energy,” she added.
Tourism Secretary Maria Bernardita Angara-Mathay said the federal government can also be seeking to attract investments in eco-tourism, hospitality development and aviation connectivity, sectors expected to profit from a recovery in regional travel demand.
“Tourism is a large engine for infrastructure and business investment,” she said in the identical statement. “By synergizing with our trade initiatives, we’re opening up high-value opportunities in hospitality facilities, eco-tourism development, and aviation connectivity, ensuring that investments in Philippine tourism yield robust, long-term returns.”
SMART CITIES, FINTECH
Meanwhile, Philippine and Japanese firms have signed three key agreements that seek to spice up smart cities development, digital connectivity, and financial technology (fintech) within the Philippines, the Presidential Communications Office (PCO) said.
In a press release on Thursday, the PCO said Ayala Corp. (AC), the Philippines’ oldest conglomerate, signed three memoranda of understanding (MoUs) with major Japanese firms during Mr. Marcos’ four-day visit in Japan.
The PCO said that AC and Ayala-led Globe Telecom, Inc. signed an MoU with Japan’s Mitsubishi Corp. and KDDI Corp. to ascertain “Intelligent City” initiatives in Makati City, which might be expanded to other urban areas.
Mitsubishi Corp. is a multinational conglomerate with operations across machinery, energy, and automotive, while KDDI Corp. is a Japanese telecommunications firm ranked among the many Fortune Global 500 Firms.
In response to the PCO, the “Intelligent City” project will leverage AI, Web of Things, urban data integration platforms, and advanced telecommunications solutions to enhance transportation, retail and business services, energy management, and digital city services.
AC and Globe Fintech Innovations, Inc. (Mynt) inked a separate MoU with Mitsubishi to develop “Smart Life” digital services. The initiative, which goals to make Filipinos’ digital transactions more convenient, is predicted to generate around P7 billion in revenues.
The partnership will cover rewards programs, ticketing services, online payment platforms, and digital marketing solutions, PCO said.
AC and Mynt, the parent firm of digital wallet GCash, also inked a separate MoU with Mitsubishi and Japanese bank holding company Mitsubishi UFJ Financial Group (MUFG) to expand GCash’s services within the Philippines and overseas.
The partnership is predicted to assist integrate GCash into AC and Mitsubishi’s business ecosystems across retail, real estate, energy, mobility, and digital services, the PCO said.
The initiative would concentrate on developing higher digital payment systems, lending services, investment products, and stronger online security, it added.
AC President and Chief Executive Officer Cezar P. Consing said its partnerships with Japanese firms align with its push to construct more inclusive financial systems while helping more Filipinos take part in the digital economy.
“These partnerships reflect our shared commitment to nation-building, leveraging innovation, infrastructure, and technology to support the Philippines’ long-term growth,” he said in a separate statement.
Angelito “Lito” M. Villanueva, chairman of FinTech Alliance PH, said the Philippines’ recent partnerships with Japan would help boost the economy’s competitiveness.
“The longer term of economic competitiveness will belong to nations that may connect finance, infrastructure, and technology and the Philippines is now firmly entering that conversation alongside Japan,” he said in a Viber message.