Companies from Japan are interested to invest in several economic zones within the Philippines, said Philippine Economic Zone Authority (PEZA) OIC and Director General Tereso Panga.
In the latest Laging Handa public briefing, Panga reported that Japanese firms engaged in the renewable energy and electronics industries expressed interest in the country during the Philippine business forum in Japan.
“In the investment seminars we attended and business-to-business (B2B) meetings with potential investors, we saw that there is high interest in the area of renewable energy and electric vehicles, as well as the agro-industrial sector,” Panga stated.
He also shared that they also met with stakeholders in the electric vehicle industry, including those part of the supply chain.
A separate statement also confirmed that PEZA conducted a roundtable discussion with Aboitiz InfraCapital, Inc. in Japan, where it signed a partnership with tech firm Junca Global Partner Inc. and car manufacturer Kurabe Industrial Philippines, Inc.
With all these interests, the PEZA official reaffirmed Japan’s position as the number one source country of investments in its ecozones worth P740 billion (US$12.8 billion).
He added that there are currently 898 Japanese locators in ecozones with 352,000 direct employees.
“We continue to attract more Japanese investments because they committed to invest more in the Philippines in ecozones under PEZA,” Panga concluded.