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15 Japanese companies eyeing to set up operations in manufacturing, food, agriculture, pharmaceutical, electronics, machinery and other industries in the Philippines
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887 Japanese companies registered in PEZA to date have made P745.64 billion worth of investments, generated US$17.25 billion from exports, and created 350,710 direct jobs
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PEZA is also looking at stronger collaboration with Osaka, especially in engaging its more than 30,000 small and medium-sized enterprises
Fifteen companies from Japan plan to put up businesses in different sectors including manufacturing, food, agriculture, pharmaceutical, electronics, and machinery, according to the Philippine Economic Zone Authority (PEZA).
The 15 companies were part of a delegation from the Osaka-led Business Partner City mission organized on March 16 by the Philippine Trade and Investment Center in Osaka and the representative office of the Department of Trade and Industry in Western Japan.
“We are encouraging more investments coming from Japan, especially this time when we, alongside President Bongbong Marcos Jr., are most aggressive in promoting the Philippines to the international business community. The Japanese will always be ichi-ban in PEZA and in the country,” PEZA officer-in-charge and deputy director general for policy and planning Tereso Panga said in a statement.
PEZA reported during the visit that, to date, there 887 Japanese companies registered in PEZA and they have made P745.64 billion worth of investments, generated US$17.25 billion worth of exports, and created 350,710 direct jobs.
Some of the top Japanese companies in PEZA include, among others, Taganito HPAL Nickel Corp., Toshiba Information Equipment (Philippines) Inc., Ibiden Philippines Inc., Canon Business Machines (Philippines) Inc., and Tsuneishi Heavy Industries (Cebu) Inc.
Panga said PEZA is “expecting more Japanese business partners and companies to come and invest in the Philippines as part of their long-term business plan” following the recent state visit of President Ferdinand Marcos Jr. to Tokyo.
“We have already received more inquiries from interested Japanese companies, who will greatly add to the exports of the Philippines,” Panga said.
PEZA is also looking at strengthened collaboration with Osaka, especially in engaging its more than 30,000 small and medium-sized enterprises (SMEs), which will encourage local SMEs to be integrated in the ecozone program.
“What we want is not just our ecozones to grow but including our SMEs that support the operations of our locator companies. Without which, we cannot provide a better ecosystem for our investors here in the Philippines,” explained Panga.
The Osaka Business Partner City Council, the lead of the delegation alongside PTIC Osaka, is positive that more partnerships will come out of the three-day inbound mission.
“I’m convinced that the roundtable and other events held together with the [forum] today will be of great significance in promoting economic exchange between Osaka and its partner cities in the future,” said OBPC executive director and secretary general Makoto Yagi.
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