TOKYO - The Philippines will work to sustain economic growth at 7 percent or more under President Rodrigo Duterte, his finance minister said Wednesday, as he urged Japanese businessmen to invest in the country.

Duterte will ease ownership restrictions for foreign businessmen in a planned rewrite of the 1987 Constitution to spur investments, Finance Secretary Carlos Dominguez said in a trade forum here.

"We intend to sustain GDP growth of 7 percent or better and bring down poverty rate from 26.5 percent to 17 percent in 2022," Dominguez said.

Economic planning Secretary Ernesto Pernia said the government was eyeing 6.5 percent to 7.5 percent growth in 2017 and 7 percent to 8 percent growth in 2018.

"This can be sustained only if underlying infrastructure support is provided," Pernia said in the same forum.

The economy grew 7 percent in the second quarter, one of the fastest growth rates in Asia, boosted by spending for the May elections.

The Constitution limits foreign ownership of businessmen to 40 percent and Duterte, during the campaign, has pledged to increase this.

Duterte is in Tokyo for a three-day official visit as he seeks stronger ties with Asian countries while distancing the country from its long-standing ally, the United States.

The Philippines and Japan are scheduled to sign $1.5 billion in trade deals on Wednesday. Duterte is also set to meet with his Japanese counterpart, Shinzo Abe. -- with reports from Christian V. Esguerra and Reuters