Japanese Firms Eye P23.5-B Investments in PH

Four Japanese firms are looking to invest a total of P23.5 billion in the Philippines, according to the Department of Trade and Industry (DTI).

- By Louella Desiderio

The investment commitments were made during the trip of Special Assistant to the President on Investment and Economic Affairs Frederick Go and Trade Secretary Cristina Roque to Japan on March 3 and 4.

Go and Roque met with investors in diverse industries including renewable energy, railways, fashion, information technology, business process outsourcing, artificial intelligence, and entertainment.

"Many expressed interest in expanding their existing operations or establishing new ventures in our country," Roque said.

She said many firms are interested to do business in the Philippines given positive developments including the recently enacted CREATE MORE Law, which offers enhanced tax incentives and simplified processes for investors.