The Philippine Economic Zone Authority said it generated major foreign direct investment leads from at least five Japanese companies conducting due diligence for potential projects in the country.
PEZA said it leveraged its private investment promotion partners including Sumitomo Mitsui Banking Corp. , Mitsubishi UFJ Financial Group , Fair Consulting Group and Tokyo Kiraboshi Financial Group. These partners connected PEZA with their respective clients, including potential investors and existing locators.
The recent trilateral agreement among the US, Japan and the Philippines supporting the Luzon Economic Corridor, coupled with the US CHIPS and Science Act, also presented exciting opportunities for Japanese companies semiconductor/electronics manufacturing, agribusiness, clean energy, digitalization and infrastructure development, PEZA said.
“During our recent trip to Japan, we met with eight Japanese firms. All of them expressed a strong commitment to expanding their presence in the Philippines,” said Trade Secretary Alfredo Pascual.