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Marcos seeks to revive “dormant” PH-Japan business alliances

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On Wednesday night, President Ferdinand R. Marcos Jr. emphasized the necessity for the Philippines and Japan to “revitalize” business partnerships that had become somewhat “dormant” because to the Covid-19 outbreak, stating that doing so would help both countries’ economy thrive.

Just after arriving in Tokyo, he said this while having dinner with executives from Mitsui & Co. and Metro Pacific Investments Corporation (MPIC).

State-run Radio Television Malacaang (RTVM) posted videos of Marcos alongside Mitsui and MPIC leaders such Mitsui & Co. CEO Kenichi Hori and MPIC Chairperson Manny Pangilinan on its official Facebook page.

“The relationship between the Philippines and Japan, not only Mitsui specifically, has a long history. We can cite numerous advances that took place in the Philippines thanks to the support of various Japanese financial organizations, as well as our government-to-government (G2G) and commercial agreements, which have benefited both of our nations, added Marcos.

“The alliances, I believe, that we have built with our allies here in Japan, particularly with Mitsui…

We would need to revive them because, during the pandemic’s lockdowns, they had become somewhat dormant, he said.

He expressed similar excitement, saying he hoped the conversations that will occur during his five-day official visit would serve as “a driver in the restructuring of our economy.”

Along with Pangilinan, other business executives from the delegation of the nation were there, including Ramon Ang of San Miguel Corp. and Jaime Augusto Zobel de Ayala of Ayala Corp.

Along with other important government figures like House Speaker Martin Romualdez, Senate President Juan Miguel Zubiri, and former president and current Senior Deputy Speaker Gloria Macapagal-Arroyo, Marcos was accompanied by First Lady Liza Araneta-Marcos.

The primary business activities of Japanese company Mitsui & Co. include product sales, logistics, financing, infrastructure development, the production of iron and steel, information technology (IT), and communication. The Philippines is one of the 63 nations where it now has 128 offices.

The MPIC, a holding company for investment management and infrastructure based in the Philippines, is primarily engaged in strategic partnerships through enhancing operational effectiveness, expanding consumer reach, and collaborating closely with regulators and other partners in government.

complete stalled projects

Marcos added that the Philippines is eager to “finalize” initiatives with Japan that have been put on hold due to the Covid-19 epidemic as well as start up new, successful projects.

He emphasized the highly established G2G and even commercial interactions between the two nations.

As a result, he explained to reporters on board PR001, “What we’re really having to do now is we’re going to have to… we’re finalizing some of the projects that, for example, were delayed due to the pandemic lockdowns and also now some new projects that are follow on from kung ano ‘yung dati (previous projects).”

He stated that his formal visit to Japan had a “very clear” schedule and was no longer just an introduction to the Philippines.

Marcos is currently on a five-day official visit to Japan to advance cooperation between Manila and Tokyo in a variety of fields, including infrastructure, defense, renewable energy, agriculture, and digital transformation.

Marcos stated that he will foster cooperation in sectors “where future synergies and complementary interests converge with those of Japan” before departing from Manila.

In order to promote trade and investment prospects in the Philippines, Marcos will meet with Japanese Prime Minister Fumio Kishida, have an audience with Emperor Naruhito, and meet with Japanese business executives.

He will also meet with the Filipino community in Japan before taking out for Manila.

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