Thirty-five investment agreements on a wide range of areas of cooperation have been sealed between the Philippine and Japanese governments and various companies on Friday.
President Ferdinand R. Marcos Jr. witnessed the signing of Letters of Intent (LOI) on investments, which are expected to bolster bilateral relations between the Philippines and Japan.
On top of the list is a Memorandum of Cooperation between the Department of Trade and Industry (DTI) and Japan External Trade Organization (JETRO), signed by Trade Secretary Alfred E. Pascual and Nobuhiko Sasaki, chairman and CEO of JETRO.
Meanwhile, business agreements signed include Asti Corporation’s wiring harness manufacturing expansion project; Brother Industries, Ltd.’s printer manufacturing expansion project; DoubleDragon Corporation/IwataChizaki Inc.’s hotel construction project; Itochu Corporation’s expansion of pineapple production volume; Japan Tobacco Inc.’s factory expansion project; Kurabe Industrial Co, Ltd.’s new factory for autoparts; Marubeni Corporation’s energy, transportation, healthcare and afforestation projects; MinebeaMitsumi Inc.’s new factory for OIS (optical image stabilizer) production and solar project; Mitsubishi Corporation’s infrastructure development, construction activities, transportation, commercial and residential real estate development and mass housing projects; and Mitsubishi Motors Corporation’s automobile manufacturing expansion project and commitment renewal to meet production targets.
Also on the list were Nidec Corporation’s (Nidec-Shimpo Corporation) speed reducer gear manufacturing expansion project; Nomura Real Estate Development Co., Ltd./ GT Capital Holdings’ property development project; Renova, Inc. – renewable energy project; Sojitz Corporation’s property development project and telecommunications project; Taiheiyo Cement Philippines Inc.’s kiln renewal, distribution terminal and berth reinforcement project; Tamiya, Inc.’s new factory for plastic models and RC cars; TDK Corporation’s new factory for next generation HDD heads and components project; Toyota Motor Corporation’s light commercial vehicle (LCV) manufacturing project; and Yamaichi Electronics’ new factory for IC sockets.
Other business deals include Kawasaki Heavy Industries/ Aboitiz./ Amber Kinetics,/ IKS Co. Ltd.’s mechanical energy storage technology project; Ubicom Holdings, Inc./Advanced World Systems,Inc.’s software development outsourcing project; Department of Environment and Natural Resources (DENR)/ Marubeni Corporation/Dacon Corporation – Joint Credit Mechanism (JCM) project; Hitachi, Ltd. and Filinvest Development Corporation’s development, construction, and operation of desalination facilities to supply potable water to Metropolitan Cebu; Sumitomo Corporation’s North South Commuter Rail / Metro Manila Subway – rolling stock project; Oriental Energy & Power Generation Corporation/ Marubeni Corporation’s development and operation of renewable power plants; Murata Manufacturing Co. Ltd.’s multi-layer ceramic capacitors factory expansion; Kenko Tokina Co., Ltd.’s telescope factory expansion; Hankyu Hanshin Properties Corp. and W Landmark Inc.’s co-investment in a REIT, and joint venture in commercial real estate development activities; and JERA Co., Inc. and Aboitiz Power Corporation’s cooperation in development of ammonia and hydrogen value chains in the Philippines, and assessing the feasibility of ammonia co-fired power generation in the country.
Other deals were: Sojitz Corporation and Maestro Holdings, Inc. – joint venture partnerships in healthcare, logistics and warehousing, education; Vista Land & Lifescapes, Inc. and Mitsubishi Estates Co., Ltd. – Housing project; Ceremonial hand-over of Certificate of Gratitude: AMEN and Go Negosyo; and Bases Conversion and Development Authority and New Energy and Industrial Technology Development Organization – demonstration project for the development of smart mobility. #
