Japan’s investment pledges for PH cover BPO sector
President Rodrigo Duterte is expected to sign more than twenty business deals worth almost PHP300bn (USD5.7bn) during his visit to Japan. The investment pledges cover business process outsourcing (BPO), electronics, medical devices, transportation, food manufacturing, infrastructure, automotive, and marine manpower industries. Trade Secretary Ramon Lopez said the agreements and investment pledges would create at least 80,000 jobs. Duterte will be in Japan to attend Nikkei’s 25th international conference on the future of Asia, as part of his third visit to the country as president. He is expected to meet with Japanese Prime Minister Shinzo Abe to discuss ways to enhance the ties between Manila and Tokyo. Japan is the Philippines’ second-largest trading partner, with total trade amounting to USD20bn last year. Lopez said the Department of Trade and Industry is consistently pursuing investments from all countries to provide decent employment opportunities for Filipinos.
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