The administration of President Ferdinand R. Marcos Jr. is on the right track in putting the Philippines at the centerstage of business, trade and even geopolitics, a business leader said on Saturday.
“Less than a year in office, the PBBM administration appears to be on the right track in putting the Philippines from the periphery to the center of stage of business, trade and even geopolitics,” International Chamber of Commerce Philippines (ICCPhil) Director General Jesus Varela said in a media forum.
“A sustained engagement with global economies definitely, you know, will reap the harvest for the Filipino,” the business leader said.
The President’s policy of the Philippines being “friend to all and an enemy to none” is good for the economy, Varela said, adding the Filipino leader has manifested his leadership in the Association of Southeast Asian Nations (ASEAN) and has effectively dealt with the US and China.
And with his recent visit to Japan, Varela said it is a good development that would benefit both countries.
As far as Japan is concerned, the ICCPhil official said these are more than investment pledges because Japan already has strong presence in the Philippines, providing Official Development Assistance (ODA) and Japanese companies engaging in the fields of mining, steel, car manufacturing, information technology (IT), infrastructure, energy, manpower and training.
“Now is where [we see] the expansion and diversification of Japanese business here in the Philippines. And these visits would definitely provide the necessary confidence-building and rekindling of relationships between our countries,” Varela said.
According to Varela, the ICC Philippines has been a recipient of a number of proposals from a number of businessmen in the field of waste water management, healthcare, biofuel, mineral processing and technology transfer.
Philippine companies could also tap investment opportunities in Japan with increased collaboration between the two countries, the ICC official said, as he noted a massive infrastructure in Kansai, in preparation for the Osaka 2025 World Expo, will require a large workforce.
In connection with the President’s Japan visit, the Department of Trade and Industry (DTI) reported it is tracking investment pledges of about $10 billion or around P500 billion to P550 billion. #
