NextGen Day

Alfredo Pascual, secretary of the Department of Trade and Industry (DTI), has urged Japanese businesses to increase their investments and operations in the Philippines.

This occurred while Pascual accompanied President Ferdinand R. Marcos Jr. on his official business trip to Japan. While there, the two visited with 11 Japanese companies that produce semiconductors, electronics, and wiring harnesses.

The Japan Aviation Electronics Industry, Brother Industries, Ltd., IBIDEN Co., Ltd., Murata Manufacturing Co., Ltd., Seiko Epson Corporation, Nidec-Shimpo Corporation, TDK Corporation, Sumimoto Wiring Systems Ltd., Yazaki Corporation, Yokowo Co., Ltd., and Panasonic Corporation are among the companies named in the DTI statement.

According to Pascual, these businesses gave the Marcos both a presentation of their current activities in the nation and their future investment intentions.

In a roundtable discussion with the Japanese companies on Thursday in Tokyo, Pascual said, “With the demand anticipated to grow in the global market, we would like to explore how we can encourage you to develop and modernize your operations in the Philippines.”

In addition to providing a forum for Marcos’ cabinet members to outline the government’s measures and reforms aimed at enhancing the investment climate, the discussion, according to him, allowed Japanese corporations to voice their concerns about the business climate in the Philippines.

As the trade preference program permits duty-free entrance of export goods from the Philippines to the US, Pascual claimed that Japanese corporations identified the renewal of the United States Generalized System of Preference (GSP) as vital for their investment decisions in the nation.

The country’s participation on the US GSP came to an end in December 2020, but Pascual claimed that the Philippine government is urging the US government to renew the GSP.

The manufacturing of electronics and semiconductors, which continues to be the nation’s leading export industry and generates more than half of all merchandise export revenues, makes the Philippines a prime location for investment, he continued.

Similar to Mexico, China, and Romania, the Philippines is the fourth-largest exporter of wiring harness worldwide.

7 percent of the global wiring harness shipments, or USD2.3 billion, were made in this industry each year.

Save/Share this story with QR CODE

---

Disclaimer

This article is for informational purposes only and does not constitute endorsement of any specific technologies or methodologies and financial advice or endorsement of any specific products or services.

📩 Need to get in touch?

📩 Feel free to Contact NextGenDay.com for comments, suggestions, reviews, or anything else.

---

We appreciate your reading. 😊Simple Ways To Say Thanks & Support Us:
1.) ❤️GIVE A TIP. Send a small donation thru Paypal😊❤️
Your DONATION will be used to fund and maintain NEXTGENDAY.com
Subscribers in the Philippines can make donations to mobile number 0917 906 3081, thru GCash.
3.) 🛒 BUY or SIGN UP to our AFFILIATE PARTNERS.
4.) 👍 Give this news article a THUMBS UP, and Leave a Comment (at Least Five Words).

---

AFFILIATE PARTNERS

World Class Nutritional Supplements - Buy Highest Quality Products, Purest Most Healthy Ingredients, Direct to your Door! Up to 90% OFF.
Join LiveGood Today - A company created to satisfy the world's most demanding leaders and entrepreneurs, with the best compensation plan today.

---