Speaker Martin Romualdez on Friday extended his heartfelt congratulations and support to President Marcos for the successful outcomes of his Japan visit earlier this year, which has “significantly bolstered the Philippine economy and created jobs for thousands of Filipinos.”
The Department of Trade and Industry (DTI) recently announced that 22 percent, amounting to P170 billion, of the pledged investments from the visit have been realized.
These investments stem from 34 letters of intent and agreements, “contributing robustly to the country’s economic growth and job creation,” the Speaker said.
“We are witnessing the fruits of President Marcos Jr.’s strategic international engagements,” said Romualdez. “These investments are not just numbers; they represent hope, opportunities, and a brighter future for thousands of Filipinos.”
Key investments include the P4.4 billion initiative by Murata Manufacturing for a new production building in Tanauan City, Batangas, creating 3,500 jobs and yielding $1.2 billion in exports.
The groundbreaking of the P7-billion Hotel 101 project in partnership with Niseko and DoubleDragon Corp. marks another milestone, as it is expected to generate $126.7 million in sales revenue.
Further emphasizing the diversity of these investments, Speaker Romualdez highlighted the new Tamiya Corp. factory in Cebu, the renewable energy commitments from Renova Inc., and the environmentally conscious initiatives by MinebeaMitsumi Inc. in their Cebu plant.
“These varied investments reflect our nation’s growing attractiveness as a global investment destination, capable of meeting the needs of diverse industries,” added Romualdez. “They also align with our commitment to sustainable development and environmental stewardship.”
In total, these investments have generated an impressive 9,700 jobs, significantly contributing to the national employment rate and uplifting the lives of many Filipino families.
Malacanang also reported that Department of Trade and Industry-led (DTI) business event during the President’s participation in the December 15-18 ASEAN-Japan Commemorative Summit in Tokyo resulted in P14.5 billion of indicated investments from Japanese businesses.
Together with the investment agreement signed on February 2023 and the recently-signed agreements, the President said investment commitments from Japanese investors now total P771.6 billion or about US$14 billion, opening up 40,000 job opportunities for Filipinos.
In his address during the signing of new agreements and updates on investment pledges, Mr. Marcos said his administration continues to listen to issues, concerns, and suggestions of investors on “what needs to be done to continue supporting and ensuring their success in the Philippines.”
The President said his administration takes due note of these “valuable feedbacks,” adding that they work closely with Congress to enact much-needed legislation” that would satisfactorily address such concerns.
“That is why the Speaker of the House of the Representatives of the Philippines is here, accompanying us, on what is essentially is a business delegation but because of the laws in the Philippines dictate that all revenue measures that are undertaken or new laws that are revenue measures must originate from the House of Representatives,” Mr. Marcos told Japanese business leaders.
Romualdez reiterated his full support for the President’s vision and efforts in promoting the Philippines as a prime investment location.
“Our collaborative efforts in the government, together with the private sector, are crucial in sustaining this momentum. We are committed to nurturing these partnerships and ensuring that the Philippines continues to thrive as a hub of innovation and economic growth,” the Leyte lawmaker said.