MANILA – Japanese companies have started fulfilling their investment pledges to the Philippines, amounting to PHP22.3 billion, according to Trade Secretary Alfredo Pascual.
Speaking at the DTI Office in Makati City, Pascual highlighted significant investments from Taiheiyo Cement (PHP11.7 billion for a new Cebu plant), Murata Manufacturing (PHP7 billion for a Batangas facility), and Sojitz Corp. (PHP3.6 billion for sustainable infrastructure).
Additional pledges totaling PHP7.4 billion were made by Yokohama and MinebeaMitsui, earmarked for manufacturing and expansion projects. President Ferdinand R. Marcos Jr.’s official visits to Japan in 2023 secured PHP771.6 billion in commitments, expected to generate over 40,000 jobs.
Investment Details:
Taiheiyo Cement: PHP11.7 billion for Cebu plant.
Murata Manufacturing: PHP7 billion for Batangas manufacturing capacity.
Sojitz Corp.: Increased spending to PHP3.6 billion on sustainable buildings and digital infrastructure.
Additional Pledges:
Yokohama: Planning PHP3.5 billion expansion in tire manufacturing.
MinebeaMitsui: Further investment commitments included.
Future Projects:
Mitsubishi Corp.: Metro Manila Subway.
Sumitomo Corp.: MRT 3 rehabilitation and renewable energy.
Marubeni Corp.: Partnerships in power and healthcare.
These investments are part of broader economic engagements, reinforcing the Philippines as a key destination for Japanese businesses.
(el Ami/mnm)
