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After a five-day official visit to Japan, President Ferdinand R. Marcos Jr. returned to Manila on Sunday night with investment commitments totaling US$13 billion that will support economic growth and create 24,000 jobs for Filipinos.

During roundtable talks with business executives and potential investors, where he informed them on the Philippines’ better business climate and investment environment, Marcos, who was in Tokyo from February 8 to February 12, claimed the pledges were made.

In his welcome address at the Villamor Air Base in Pasay City, he said, “Coming back, we carry with us about USD13 billion in contributions and pledges to help our people, create about 24,000 jobs, and further reinforce the foundations of our economic environment.”

He claimed that important members of the private sector who were present at the business delegation met with major Japanese corporations to discuss how to take advantage of the current economic prospects in the Philippines.

Since Japan has the second-largest maritime industry in the world and employs at least 31,673 Filipino sailors, Marcos claimed that his trip to Tokyo gave him the opportunity to speak with CEOs of Japanese shipping businesses and associations.

The Japanese shipping corporations also have investments in and long-term ties with Philippine stakeholders in maritime education and welfare programs, he continued. “That figure constitutes 70% of the maritime crew of the Japanese ship owners.”

productive meetings

While Fumio Kishida, the prime minister of Japan, and the Philippines have “similar ideals” and “same goals,” Marcos characterized their encounter as “extremely constructive.”

According to Marcos, “We vowed to further strengthen the strategic alliance between the Philippines and Japan and laid out a transformative, future-oriented partnership that is adaptable to new developments.”

He claimed that he and Kishida signed bilateral agreements that set up expanded and mutually beneficial cooperation while also strengthening the defense and security ties between the two nations and making significant progress in the fields of agriculture and information and communications technology (ICT).

The North-South Commuter Railway (NSCR) for Malolos-Tutuban and the NSCR Project Extension are two significant projects that together will cost 377 billion Japanese yen, or almost $3 billion, according to Marcos.

“By improving the facilitation of the movement of people, goods, and services,” he continued, “it is expected that the completion of these projects, along with other ongoing large-scale official development assistance (ODA) projects, such as the Metro Manila Subway project and many more across the country, will translate to better lives for Filipinos.”

Marcos also expressed his gratitude for the opportunity to meet with the Japanese emperor and empress at an imperial audience in order to reaffirm their shared commitment to fostering the deep friendship and cultural links between Manila and Tokyo.

Assuring them of continuous efforts to increase job opportunities in the Philippines “so that working abroad will become a career choice and not the only option accessible to them,” Marcos said it was also a joy for him to address overseas Filipino workers in Japan.

“I informed them that we are working twice as hard to develop laws to create alliances that will increase our economy’s competitiveness and appeal to entrepreneurs from abroad,” he said.

He concluded by saying that his formal visit demonstrated how the Philippines and Japan’s strategic alliance has “withstood the test of time.”

He also expressed certainty that there will be “a new decade of mutual trust, support, and profit” in the two nations’ relations.

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