PRESIDENT Ferdinand R. Marcos, Jr. on Thursday obtained investment pledges from Japanese electronics companies, while also receiving assurances from shipping companies of more hiring of seafarers from the Philippines, the Palace said.
Mr. Marcos had a roundtable meeting with semiconductor and electronics companies looking to expand their operations in the Philippines. “We consider your operations significant. You are a prime generator of jobs,” he said. “You provide support for sectors critical to industrial development and you carry with you the promise to create value through innovation in global manufacturing around the world.”
In 2021, the Philippines was the fourth-largest exporter of wiring harness in the world after Mexico, China, and Romania, according to the Palace. The Philippines was also one of the lowest-cost producers of wiring harnesses. “We also expect that quality standard of the Filipino seafarers to continue to improve, as the Philippine government continues to work hard to achieve this.”