Manila: President Ferdinand R. Marcos Jr.'s productive state visit to Tokyo sends a strong signal that Japan sees the country as a good investment hub - an outcome soon to translate into more jobs and likely elevated standing among other foreign businesses, a political analyst said on Thursday. Speaking at a Bagong Pilipinas Ngayon interview, University of Santo Tomas (UST) political science professor and Local Government Development Institute Director Froilan Calilung said Marcos' trip effectively showcased how Manila's dealings with Tokyo as an 'economic and geopolitical partner' have grown over the years.
According to Philippines News Agency, Japan is considered one of the trusted countries globally, and their trust is pivotal in encouraging other nations to see the Philippines as an investment destination. The Philippines has secured approximately USD3.4 billion in investment pledges from Japanese companies following a high-level business roundtable meeting led by Marcos in Tokyo. These commitments were announced during the President's meeting with top Japanese business leaders at the Imperial Hotel in Tokyo.
For Calilung, the investments secured in Japan and the jobs they would generate come at a critical time, when the government is doubling efforts to cushion the impact of rising inflation and the ongoing oil crisis stemming from the Middle East conflict. The analyst also sees potential for further growth in cooperation on artificial intelligence and consumer goods manufacturing, including semiconductor production and agricultural self-sufficiency.
The Philippines is being recognized in the Asia-Pacific region as an important AI technological hub. Japan, being a technologically-driven country, is likely to take a keen interest in this development. During a high-level roundtable with Japanese businessmen in Tokyo, Marcos stated that the Philippines is pursuing a coordinated national strategy to align infrastructure development, industrial growth, finance, human capital, and connectivity to support long-term expansion, with trade and tourism positioned as central drivers of growth.
