Japan execs to invest P210 billion in Philippines

TOKYO – Japanese businesses have committed to invest about P210 billion in the Philippines during President Marcos’ high-level round table meeting with investors on the sidelines of his four-day state visit here, Malacañang said yesterday. In a statement, the Presidential Communications Office (PCO) said the combined capital inflows are expected to catalyze substantive macroeconomic benefits, expand domestic industrial capacity and directly generate thousands of high quality, specialized jobs for Filipinos.

“The roundtable concluded with a massive visual vote of confidence for the administration’s economic agenda, yielding an aggregate investment commitment of $3.4 billion (approximately P210 bil lion) from participating Japanese corporations,” the PCO said. The statement did not provide a detailed breakdown of the invest ment pledges made during the meeting, which was in line with the administration’s goal to forge a “cohesive, future-ready economic partnership” with Japan.