Most Japanese firms in Philippines restart operations: survey

Kyodo News

Posted at Jun 23 2020 03:20 PM

Most Japanese firms in Philippines restart operations: survey 1
Bonifacio Global City, Taguig. Jonathan Cellona, ABS-CBN News file photo

MANILA - An overwhelming majority of Japanese companies in the Philippines that responded to an online survey by a Japanese business group have resumed sales activities and factory operations following the easing of a lockdown prompted by the COVID-19 pandemic.

The Japanese Chamber of Commerce and Industry of the Philippines Inc. said that 95.6 percent of the firms that responded to its survey have restarted their business activities.

The chamber on June 8-11 polled the 618 firms that make up its membership, of which 226 or 36.6 percent responded. The poll was conducted in cooperation with the Manila office of the Japan External Trade Organization.

Of the 226 firms that responded -- 101 of which are manufacturers and 125 nonmanufacturing companies -- 95 percent and 96 percent, respectively, have resumed business operations, according to the poll.

Despite the severe economic fallout from the coronavirus outbreak, 25.7 percent of manufacturers and 20.0 percent of nonmanufacturing firms are considering expanding operations in the Philippines, the survey found.

On the other hand, 55.4 percent and 68.0 percent in the two sectors plan to keep their operations at the current level, the survey shows. (NNA/Kyodo)