The Philippine delegation to Japan, led by Finance Secretary Ralph G. Recto, engaged with top executives of Japanese companies on June 19, 2024 to invite them to expand their presence in the Philippines.
Among the Japanese companies were Sojitz Corporation, Mitsubishi Corporation, Murata Manufacturing Co., Ltd., and Sumitomo Corporation.
The Philippines aims to leverage the technological expertise of these top-notch companies to spur industry development and economic growth.
Sojitz Corporation is involved in a wide range of global businesses, including manufacturing, selling, importing, and exporting various products. In the Philippines, they operate diverse businesses, from commodities trading to several investment projects in agriculture, food, telecommunication, infrastructure, property development, automotive, and mining.
Mitsubishi Corporation is a global integrated business enterprise involved in project development, production, and manufacturing. In the Philippines, Mitsubishi handles the export and import of various products, consumer market activities, as well as infrastructure and renewable energy development.
Murata Manufacturing Co., Ltd specializes in research and development, manufacturing, and sales of ceramic-based electronics. The Philippine Manufacturing Co. of Murata, Inc. (PMM) in Batangas is Murata’s largest production site in Asia, primarily producing multilayer ceramic capacitors.
Sumitomo Corporation engages in multifaceted business activities, including product and service sales, import and export, and both domestic and international business investment. Sumitomo’s investments in the Philippines include the First Philippine Industrial Park in Batangas, which hosts approximately 150 manufacturing industries. It has also been supporting the country’s railway projects, including MRT-3, LRT-1, the Metro Manila Subway, and the North-South Commuter Rail.
The meetings were organized by the Department of Trade and Industry’s (DTI) field office in Tokyo and were held on the sidelines of the Philippine Economic Briefing in Japan.
Joining Secretary Recto were Office of the Special Assistant to the President for Investment and Economic Affairs (OSAPIEA) Secretary Frederick D. Go; Department of Budget and Management (DBM) Secretary Amenah F. Pangandaman; National Economic and Development Authority (NEDA) Secretary Arsenio M. Balisacan; DTI Secretary Alfredo E. Pascual; and Department of Transportation (DOTr) Secretary Jaime J. Bautista.
Also present were Department of Energy (DOE) Undersecretary Felix Fuentebella; Bangko Sentral ng Pilipinas (BSP) Deputy Governor Francisco G. Dakila, Jr.; Bases Conversion and Development Authority (BCDA) President and Chief Executive Officer Joshua M. Bingcang; and Philippine Ambassador to Japan Mylene Garcia-Albano.
