Tokyo—President Ferdinand Marcos Jr. said the effects of the series of business meetings in Japan will be felt “very rapidly” after his five-day working visit in Tokyo.
Marcos, who is scheduled to return to Manila today (Sunday), said his trip was “very productive” considering the signing of 35 key investment deals between the Philippines and Japan.
“I think that we will be able to feel the effects of these discussions, of these agreements, very, very soon, very rapidly back home in the Philippines,” Mr. Marcos said in an interview.
The President said his official visit to Japan is “particularly important” because it is “setting down the blueprint” for the two nations’ relations as they lay out their recovery plans from the COVID-19 pandemic.
“They have supported our agriculture, they have supported our attempts at making the digitalization of the Philippines a more widespread phenomenon,” Mr. Marcos said.
One of the Japanese firms that sought to expand their operations in the Philippines is Marubeni Corp., a major integrated trading and investment business conglomerate.
Marubeni officials, led by chief executive officer Masumi Kakinoki, reaffirmed their partnership with the Philippines in a meeting with Mr. Marcos in Tokyo.
“In addition to the traditional generation system, we are very much committed to increase renewable energy like mini hydro, solar and wind project and we are discussing with your country, our local partner to develop such kind of new facilities,” Kakinoki told Mr. Marcos.
On Friday, Mr. Marcos also welcomed the plan of Japanese carmaker Toyota to bring back the Tamaraw model in the Philippine market.
In his meeting with Toyota executives, President Marcos said the Tamaraw has been a dependable utility transport for many years for Filipinos.
“Many of the Tamaraws you’ve recently built are still on the road,” the chief executive told the officials of the Japanese carmaker, who described the Toyota Tamaraw as the company’s “workhorse.”
“We have always been appreciative especially in the involvement of Toyota in the Philippines over so many years. It is very interesting to hear your new plans for the Philippines and it’s very much in alignment with what we’re trying to do… We are hoping we are able to improve the situation for your supplier to be able to come in to the ease of doing business,” Mr. Marcos said.
President Marcos also said the government is also looking at acquiring one model of the Toyota brand, the Mini-Cruiser, for military use.
“It’s something we would like to revisit, simply because we have tried many utility vehicles for the military but they really [have] not been a success for us,” President Marcos said.
House Speaker Martin Romualdez said Mr. Marcos has been very busy meeting various business leaders from Japan, which shows their intent of willingness to invest in the Philippines.
He said the investment agreements signed between the Philippines and Japan during Mr. Marcos’ visit were only the “tip of the iceberg.”
“There’s an offshoot of this. There are still many happening off-camera, so to speak, or on the sidelines,” Romualdez told membets of the media in Tokyo.
“These discussions really redound to the benefit of the Filipino people, through the improvement of the economy, through investments, expansions of business, explorations to new areas and fields, the clarifications of whatever issues the businessmen have brought forth,” the Speaker added.