Tokyo: President Ferdinand R. Marcos Jr. welcomed continued Japanese investments in the Philippines' shipbuilding industry following his meeting with executives of Tsuneishi Group Corporation on Thursday on the sidelines of his four-day state visit to Tokyo.

According to Philippines News Agency, the Presidential Communications Office (PCO) said discussions focused on Tsuneishi's ongoing and planned investments in shipbuilding expansion, green maritime technologies, and advanced maritime manufacturing in the Philippines. Among the projects discussed were the planned expansion of the global shipbuilding company's shipyard facilities in Balamban, Cebu, and the continued development of environmentally friendly next-generation vessels.

Marcos also welcomed Tsuneishi's leadership in sustainable shipbuilding after the successful delivery in Cebu earlier this year of the world's first Methanol Dual-Fuelled KAMSARMAX Bulk Carrier. The Philippines has long been recognized as one of the world's major shipbuilding hubs due to its strategic location, skilled maritime workforce, and large-scale shipyard operations.

The shipbuilding sector is considered a major source of employment and export revenues, particularly in Cebu, Subic, and Batangas, where several foreign shipbuilding firms operate.