The Philippine government acquired investment pledges worth $10 billion or around P550 billion during President Ferdinand Marcos Jr.’s visit to Japan, according to the Department of Trade and Industry’s tracking. | JMangaluzINQ
The International Chamber of Commerce Philippines Director General Jesus Varela foresees the “diversification of Japanese business” in the country.
Varela said that Japan already has a strong presence in the Philippines in the form of official development assistance, as well as Japanese companies engaging in the fields of mining, steel, car manufacturing, information technology, infrastructure, energy, manpower, and training. According to the ICCPhil official, participation with global economies and Marcos’ “friend to all and an enemy to none” policy have been beneficial for the Philippines.
“A sustained engagement with global economies definitely, you know, will reap the harvest for the Filipino,” Varela said.
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