DoubleDragon/Hotel101 Group Chairman Edgar Injap Sia II with Mr Tony Tan Caktiong and Iwata Chizaki Inc. president and CEO Iwata Keigo, with President Ferdinand Marcos Jr. and Trade Secretary Alfredo Pascual. DoubleDragon handout
MANILA — President Ferdinand Marcos Jr. on Friday witnessed the signing of 35 deals on key investments between the Philippines and Japan during his visit in Tokyo, according to stakeholders and the Presidential Communications Office.
The agreements included a deal between DoubleDragon Corp's subsidiary Hotel101 Pte Ltd and Japanese contractor Iwata Chizaki Inc for the construction of Hotel101-Niseko, Hokkaido Japan Project, the company said in a statement.
"Iwata Chizaki Inc is one of the major contractors in Japan and the same contractor who built the Chitose International Airport in Saporro Hokkaido Japan," DoubleDragon said.
In a separate statement, Malacañang said Marcos witnessed the signing of Letters of Intent (LOI) on investments and agreements between the Philippines and leading Japanese firms, spanning across infrastructure, manufacturing, energy, transportation, and healthcare, among others.
"The government of the Philippines has been working to deepen the confidence in the Philippines of foreign investors and companies,” Marcos said.
"And it is our hope that companies such as yours will not only find the Philippines to be an attractive investment destination, we are designing our efforts to encourage you to stay and find our country to be a place where your businesses will thrive,” he told Japanese investors.
The Presidential Communications Office said the following business agreements were signed:
- A wiring harness manufacturing expansion project with Asti Corporation
- A printer manufacturing expansion project with Brother Industries, Ltd
- A hotel construction project with DoubleDragon Corporation/IwataChizaki Inc
- A factory expansion project with Japan Tobacco Inc
- New factory for autoparts with Kurabe Industrial Co, Ltd
- Energy, transportation, healthcare and afforestation projects with Marubeni Corporation
- Automobile manufacturing expansion project and a commitment renewal to meet production targets with Mitsubishi Motors Corporation
Marcos and his economic team are in Japan for a 5-day official visit.
— With reports from Jessica Fenol and Job Manahan, ABS-CBN News
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