The Philippine government is looking forward to forging and exploring more business ventures in various fields with Japanese business leaders in the future, President Ferdinand R. Marcos Jr. said on Friday.
This, after the chief executive witnessed the signing of Letters of Intent (LOI) on investments and agreements between the Philippines and leading Japanese firms earlier in the day.
“We look forward to future projects in the following sectors from both portfolio and foreign direct investors as we are certain that these will materialize into a fair return to both parties,” President Marcos said in his speech during a dinner hosted by Japanese financial institutions.
“The Philippines is a great investment area as it leads economic recovery and performance in the Asia-Pacific Region, in fact, not only in the region, but also in the whole world,” the President noted.
One of the sectors the President is eyeing the Philippines to be involved in is knowledge-based and technology which, Marcos said, “will help the Philippines achieve its transformational goal to become a global manufacturing hub for next-generation wiring harnesses, office peripherals, and electronic parts and components.”
President Marcos said another sector is the one that entails the Philippines upscaling the processing of the country’s “green metals into higher-value products.”
“Converting nickel ore to lithium-ion batteries, and copper ore to wires and cathodes form part of the blooming green economy worldwide,” the chief executive added.
The President said the other fields of development include the modernization of the food and health sectors; digital transformation and innovation in Philippine industries via investments in artificial intelligence, biomaterial research and development and data centers; and creation of a “creative economy,” which he described as “a marriage of creativity and technology.”
“We want to venture into partnerships both in business and capacity-building projects in areas for which Japan is recognized as a global leader – animation and game development,” President Marcos said. #
