– Filipino and Japanese companies are set to sign over 20 business agreements worth P300 billion which are expected to generate 80,000 jobs.
According to Lopez, Japanese investors remain bullish on the sustained growth momentum under the administration of President Duterte, given its aggressive infrastructure build-up, meaningful investment and financial reforms and demographic advantages. In 2018, Japan was the Philippines’ second major trading partner with total trade at US$20 billion, US$9.5 billion worth of exports to Japan, and US$10.5billion worth of imports from Japan. The country is the Philippines’ third major export market and import supplier.
The President is expected to travel to Tokyo on Tuesday for a four-day visit, mainly to attend to participate in the Nikkei Conference on the Future of Asia on May 31.