Last week, Peza had a five-day investment mission in Japan to entice more firms from the East Asian country to set up business operations or expand their operations in the Philippines.
Nakashima Propeller Co., Ltd.—a manufacturer of marine propulsion equipment— is also eyeing to bring in new technology in its facility at the Cavite Economic Zone. Showa Spring Co. Ltd., which manufactures a number of galvanized steel products, is also keen on setting up a factory in the Calabarzon area to cater to its clients in Luzon.
“With Japan’s SMEs as the lifeblood of this country’s massive economy, comprising 99.7 percent of all businesses, we can take advantage of these SMEs by putting up operations in the Philippines, help complete the supply chain, empower our own SMEs, and boost the country’s industrial ecosystem,” Panga said in a statement.