Investment pledges from Japan trip to yield over 10,000 jobs says Palace


Posted at Feb 09 2023 05:11 PM

Presidential Communications Office handout. 
Presidential Communications Office handout. 

MANILA - More than 10,000 jobs are expected to be generated by "billions of pesos worth of investment pledges" from different Japanese companies in the semi-conductor and wiring harness sector, Malacañang said on Thursday. 

President Ferdinand Marcos, Jr. will announce the investment pledges on Friday when he signs the letters of intent of Japanese firms, the Presidential Communications Office said in a release. 

“We want the country to attain the status as a regional hub for printers, wiring harnesses, and other electronic goods,” Marcos said during his roundtable meeting with Japanese business leaders.

“We consider your operations significant. You are a prime generator of jobs. You provide support for sectors critical to industrial development and you carry with you the promise to create value through innovation in global manufacturing around the world,” he said. 

The President is also hoping that Japanese investors in the field of semiconductors and electronics will recruit Filipinos for their research and development. 

The Philippines, Marcos said, aims to become a "hub of excellence for sectors where we have a natural comparative advantage." 

Around P150 billion in investments were pledged during Marcos' 3-day official visit to Tokyo, the country's ambassador there had said.