Manila: President Ferdinand R. Marcos Jr. on Friday reported that his four-day state visit to Japan generated about USD3.4 billion in investment pledges, strengthening the Philippines' position as an emerging investment hub in Asia. The plane carrying Marcos and the Philippine delegation to Japan landed at the Villamor Air Base in Pasay at around 6:19 p.m.
According to Philippines News Agency, during a press conference in Tokyo before returning to Manila, Marcos described his trip to Japan as 'highly productive,' citing a series of meetings with Japanese government leaders and business executives that resulted in the elevation of strategic partnership and expanded economic cooperation between the two nations. Marcos said he had 'very fruitful' meetings with Japanese Prime Minister Sanae Takaichi, which included discussions on the start of negotiations for military information sharing and maritime boundary delimitation talks. He added that they both reaffirmed commitment to the rule of law, to international law, freedom of navigation and regional stability, particularly in the South China Sea.
Marcos highlighted that the cooperation between the two countries has grown stronger and deeper, extending beyond traditional areas such as security, maritime and defense cooperation, trade, and investment. The discussions also covered new areas such as energy security, supply chain resilience, decarbonization, artificial intelligence, and space cooperation. 'It sets the stage for ensuring that our productive partnership is fit for the future and will redound to even more meaningful benefits for our two countries and our two peoples,' he said.
The visit also led to the signing of several agreements, including a deal on the avoidance of double taxation and cooperation in agriculture, fisheries, health services, and human resource development. Japanese firms have also indicated additional investment plans worth PHP56.3 billion for expansion projects in sectors such as semiconductor, advanced electronics, precision manufacturing, and shipbuilding, which are expected to generate around 10,300 direct and indirect jobs for Filipinos.
Major Japanese firms, including Furukawa Electric Corporation, Sumitomo Electric Industries, MinebeaMitsumi Inc., and Tsuneishi Group Corporation, remain confident in the Philippine economy and its long-term growth prospects. 'These engagements reaffirmed strong confidence in the Philippine economy and opened new opportunities for investments that will benefit our people,' Marcos stated.
During meetings with Japanese business leaders, Marcos presented the Philippines as a strategic location for investment, emphasizing its proximity to major Asian economies. 'I suppose the way we could describe it is that we have aspirations to become a hub in Asia. Because as I keep reminding our potential investors, the Philippines is only four hours away from every major capital in Asia, and that puts us geographically at the center of Asia,' the President said.
Marcos also expressed appreciation for the 'warm' welcome extended to him by Japanese Emperor Naruhito and Empress Masako. He met with members of the Filipino community in Japan, estimated at around 33,000, thanking them for their contributions to both countries' economies. 'I commended their invaluable contributions to nation building and assured them that their welfare remains an enormous and a high priority of the government. Their hard work and dedication continue to strengthen the bond between our two countries,' Marcos said.
