During his official trips to Singapore and Indonesia, President Ferdinand "Bongbong" Marcos Jr. is planning…
The PH economy is expecting further benefits from PBBM’s visit to Japan.
On February 12, House Speaker Ferdinand Martin Romualdez predicted that the group from the Philippines visiting Japan, led by President Ferdinand R. Marcos Jr., would have made great progress.
The House leader asserts that, at the current pace, the President’s team’s extended five-day working visit to Japan will be more successful in terms of attracting investments and other economic boosters, as evidenced by his earlier meeting with members of the Japanese business sector.
The President cornered billions of pesos during the round table meeting on Thursday morning with top executives of Japan-based semiconductor, electronics, and wiring harness companies, according to Romualdez, a member of the group, who was speaking on the visit’s second day.
The Speaker also thought that President Marcos’ visit to Japan will enhance bilateral trade and economic ties in general.
“The President is making a lot of effort to attract Japanese businesses and investors to the Philippines. And given the warm welcome he is getting, I have no doubt that he will make further noteworthy progress in the few days left of his working tour to Japan, Romualdez said.
Another development was that the House Speaker mentioned that the President’s presentation at a separate meeting outlining the Philippine government’s initiatives intended to entice more Japanese tourists to come and visit the Philippines had attracted the attention of Japanese tourism stakeholders, who had shown keen interest.
Japan is currently the sixth most popular destination for foreign travelers.
These are positive changes that will eventually help tens of thousands of Filipinos by creating new job chances and business opportunities that will enhance our nation’s economic progress, according to Romualdez.
In addition to attending the two sessions, the Speaker was also present at the dinner Wednesday night that Mitsui & Co. and Metro Pacific Investments Corporation sponsored for the Philippine delegation.
Romualdez observed during dinner how many Japanese businesspeople and executives were so interested in learning more about the Philippines’ business and investment potential as well as the nation’s robust economic performance despite the pandemic.
In a previous statement, President Marcos emphasized the need of lawmakers’ participation in his international travels in order to answer concerns that potential investors could have about current regulations and forthcoming legislation that might affect the business climate in the nation.
The Senate is now debating the House-approved Maharlika Investment Fund, which is one of the unresolved issues in Congress that may be of interest to Japanese businessmen.
Additionally, the House is now debating a number of legislation that would change the Constitution of 1987 to eliminate restrictive economic clauses and permit foreign direct investment, which would increase employment possibilities and promote economic growth.
The last thing President Marcos will do before returning home on February 12 is have a one-on-one meeting with Japanese Prime Minister Fumio Kishida. During this meeting, the two leaders are expected to sign important agreements in the fields of infrastructure, agriculture, digital cooperation, humanitarian aid, and disaster relief.
The Emperor Naruhito and Empress Masako will also meet briefly with the First Couple.***
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