TOKYO — President Ferdinand “Bongbong” Marcos Jr. envisions the Philippines as the “global manufacturing hub for next-generation wiring harnesses, office peripherals, and electronic parts and components.”
In his speech during a dinner hosted by Japanese financial institutions here, he seeks to forge and explore more business ventures in various fields with Japanese businessmen in the future.
“We look forward to future projects in the following sectors from both portfolio and foreign direct investors as we are certain that these will materialize into a fair return to both parties,” Marcos said.
He added: “The Philippines is a great investment area as it leads economic recovery and performance in the Asia-Pacific Region, in fact, not only in the region but also in the whole world.”
The government, he added, wants to enable the country to upscale “green metals into higher-value products.”
“Converting nickel ore to lithium-ion batteries, and copper ore to wires and cathodes form part of the blooming green economy worldwide,” he said.
Diverse projects offered
Other fields of development include the modernization of the food and health sectors, digital transformation and innovation in Philippine industries through investments in artificial intelligence, biomaterial research and development, and data centers, and the creation of a “creative economy.”
“We want to venture into partnerships both in business and capacity-building projects in areas for which Japan is recognized as a global leader — animation and game development,” Marcos said.
In a related development, Marcos got the backing of a major Japanese conglomerate in supporting the country’s renewable energy, water, and transportation sectors, according to Malacañang.
In a meeting, Masumi Kakinoki, the chief executive officer of Japan-based company Marubeni, told Marcos that his company is developing various power generation facilities as well as water sources in the Philippines.