FOUR Japanese firms are looking to invest P23.5 billion in the Philippines, the Department of Trade and Industry (DTI) said, citing the results of a recent roadshow.
Trade Secretary Ma. Cristina A. Roque was in Japan earlier this week as the guest in two separate roundtables with the Keizai Doyukai, an association of corporate executives, and the Keidanren, the federation of Japanese busi-nesses, the DTI said.
“The companies we met span diverse industries, including renewable energy, railways, fashion, information technology, business process outsourcing, artificial intelligence, and even entertainment,” Ms. Roque said in a statement on Wednesday.
“Many expressed interest in expanding their existing operations or establishing new ventures in our country. I leave Japan energized by the strong interest shown by these potential investors, which I hope will translate into ac-tual investments that create employment opportunities,” she added.
During the Japan trip, Ms. Roque, together with Special Assistant to the President on Investment and Economic Affairs Frederick D. Go, led discussions with Nidec Corp. on exploring the expansion of the company’s manufactur-ing footprint in the Philippines.
“Discussions centered on Nidec’s existing gearbox production and its strategic interest in venturing into humanoid robotics manufacturing, leveraging the Philippines’ skilled workforce and robust manufacturing ecosystem,” DTI said.
Ms. Roque and Mr. Go also convened a strategic meeting with Ibiden Co., Ltd. to explore opportunities in expanding the company’s operations in the Philippines.
“The discussions focused on Ibiden’s advanced substrate technologies, its current operations within the Philippines, and opportunities for strategic expansion,” the DTI said.
“As the nation’s sole manufacturer of these critical components, Ibiden plays a vital role in producing high-value semiconductors, supplying industry leaders such as Intel,” it added.
Ms. Roque also led discussions with top executives of Sumitomo Corp., focusing on expanding the Japanese trading house’s presence in Philippine infrastructure.
“A key focus of the discussion was Sumitomo’s potential for increased investment in renewable energy, aligned with the Philippine government’s commitment to energy security and reduced carbon emissions,” the DTI said.
The Philippines also entered into partnerships with fashion and lifestyle companies Etoile Kaito & Co., Inc. and Adastria Co., Ltd. on March 3.
“These strategic collaborations are set to significantly boost market access for premium Filipino products in Japan, attract substantial retail and supply chain investments, and showcase the nation’s rich creative talent on the in-ternational stage,” the DTI said.
In particular, Etoile will focus on exporting flower vases, gardening pots, wall decor, and fashion accessories like abaca bags and small containers.
“The company highlighted the growing international demand for Philippine-sourced handmade Christmas decor during the winter season and the sustained popularity of abaca, capiz, and shell-finished interiors and accessories during the summer months,” the DTI said.
Etoile also shared its plans to introduce Japanese merchandise to the Philippine market through partnerships with local distributors.
Meanwhile, apparel retailer Adastria announced its intent to expand its presence in the Philippines by introducing more brands and exploring local manufacturing opportunities.
The company plans to open new stores in the Philippines and introduce additional brands such as Global Work, Lowry’s Farm, and LAKOLE.
“Adastria’s expansion into the Philippines with the launch of ‘niko and…’ is just the beginning of what we hope will be a broader introduction of their diverse brand portfolio into the market,” Ms. Roque said. — Justine Irish D. Tabile