This is a re-posted article.
PRESIDENT Aquino declared his four-day official visit to Japan a “resounding success” after he was promised some $1.78 billion in investments in energy, manufacturing and the service sectors.
Talking to reporters upon his arrival on Wednesday night, Mr. Aquino said he attended a total of 36 meetings with Japanese businessmen and was able to secure their commitments to invest in the country; in return, the President promised them a level playing field and a better business atmosphere in the Philippines.
“Muli po nating naipakilala ang bagong Pilipinas sa kanila—isang mas bukas, at mas patas at mas maaliwalas na lugar sa pagnenegosyo,” he said.
The President, who flew in aboard a chartered Philippine Airlines A320, also said he had a fruitful dialogue with Prime Minister Yoshihiko Noda, during which they agreed to strengthen bilateral cooperation.
Mr. Aquino also said the processing of qualified Filipino nurses and careworkers would be accelerated, as well as cooperation in disaster prevention and how to address climate change in our country.
Japan also agreed to maintain peace with regards to the West Philippine Sea, by pushing for the Declaration of Conduct of Parties in the South China Sea, he said.
The two leaders also agreed to improve the pacts between the Philippines and Japan on tourism, defense and information.
While the President didn’t provide details on the pledged investments, Presidential Communications Operations Office Secretary Herminio Coloma Jr. said on Tuesday that Terumo Corp., a Japanese firm famous for producing disposable syringes and hospital equipment, was “very upbeat” about its commitment to increase its current investments in the Philippines. Terumo’s top officials pledged to expand their investments in the Philippines by further developing its factory in Biñan, Laguna, and acquiring additional lands to build other facilities.
Coloma also said Toyota Motor Corp. plans to spend P3.6 billion to expand its Philippine dealership to 65 by 2016 from the current 29 and to build “new generation” auto parts in the Philippines, which will add 5,000 jobs.
Coloma also reported that Marubeni Corp. may help build a 600-megawatt power project in Subic and is also “looking” at the expansion of a railway in Manila, as well as expand some power plants in Luzon.
Earlier on Wednesday, Bloomberg News reported that Yokohama Rubber Co. Ltd. will double its tire production in the Philippines to about 40,000 tires daily by 2017 from the current volume of 20,000, citing Mr. Aquino.
Coloma said Mr. Aquino mentioned future foreign destinations in a meeting with Nikkei President Ryoko Sugita, who had invited him to be a speaker at the Future of Asia forum in Japan on May 24 and 25 next year.
“The President thanked him for the invitation. He said he will ‘seriously consider’ this invitation and hoped that ‘the affairs of state will permit me to accept.’ He said that in 2012, he may likely travel to the Middle East and Europe to meet with Filipino migrant communities,” Coloma said.
The Middle East has the biggest concentration of Filipino workers, mostly in Saudi Arabia, with an estimated 3.1 million Filipinos.
Mr. Aquino had planned to go to Belgium to attend the Asia-Europe Meeting in October last year but canceled the trip after he learned that several other leaders were skipping the event.
Asked about the trips, Presidential Communications Secretary Ramon Carandang said, “They’re still being discussed and there are no details yet.”
==============================================================================
By: Recto Mercene with Mia M. Gonzalez, Bloomberg News
Source: Business Mirror, Sept. 28, 2011
To view the original article, click here.
Loading IntenseDebate Comments... Loading IntenseDebate Comments... Loading IntenseDebate Comments...
