Skip to main content

PHL, Japan businesses sign deals worth P288.8B

Image result for PHL, Japan businesses sign deals worth P288.8B
Photo from GMA News
Philippine and Japanese businesses on Wednesday forged P288.804 billion worth of investment deals on the sidelines of President Rodrigo Duterte's third visit to Japan.
The investment pledges, which are expected to create 82,737 jobs, were signed ahead of Duterte's attendance at a business forum in Tokyo where he promised a competitive and corruption-free environment in the Philippines.

The list of signed agreements released by Malacañang is as follows:

1) Memorandum of Cooperation: Philippines' Department of Trade and Industry and Japan External Trade Organization

- Enhance bilateral cooperation on investment promotion activities between the Philippines and Japan
2) Memorandum of Understanding: EMS Group, Tescom Denki Co. Ltd. and Outsourcing, Inc.
- Partnership in skills training and human resource development and deployment, manufacturing, and assembly

3) Memorandum of Understanding: Advanced World Systems, Inc. Alsons/AWS Information Systems, Inc. and Ubicom Holdings, Inc.
- Outsourcing of projects involving software development, testing, and maintenance in the following areas: a) research and development on data analytics, artificial intelligence, automation, Internet of Things, b) enterprise systems and web applications development, c) automotive software development, d) embedded systems development, e) mobile systems development, and f) product quality assurance and testing
4) Joint Venture Agreement: Bases Conversion and Development Authority and Meralco Marubeni Consortium
- Financing, design, engineering, establishment, construction, development, and operation and maintenance of the electric power distribution system in New Clark City.
5) Master Franchise Agreement
- Grant of development rights for the Dohtonbori Okonomiyaki restaurant business within the Philippines

6) Franchise Agreement

- Grant of license to open and operate Karayama outlets within the Philippines

7) Memorandum of Understanding: Asia Defense and Armament Corp., Kenko Tokina Co., Ltd. and Diversified Ecozone Corporation
- Establish a manufacturing facility in the Philippines for optics equipment, injection molded holsters, and related equipment to supply customized equipment for the Armed Forces of the Philippines, Philippine National Police, and other defense units of the Philippine government
8) Letter of Intent: Toyota Motor Corporation
- Additional investments for further parts localization under the CARS Program, including side member panels, radiator assy, fan assy with motor, and FR axle assy.

9) Letter of Intent: Murata Manufacturing Co. Ltd.
- Expand manufacturing capacity of the Philippine Manufacturing Co. of Murata Inc. (PMM) to service demands of existing customers, accommodate new customers, and anticipate increase in sales of multilayer ceramic capacitors.
10) Letter of Intent: Aeon Fantasy Co. Ltd.

- Increase investments in the country for indoor theme parks and amusement facilities through the local subsidiary.

11)  Letter of Intent: Sojitz Corporation (Sojitz FUSO Truck)
- Expand investments in the distribution of FUSO truck and bus products through the local subsidiary.
12) Letter of Intent: Sojitz Corporation (Bakery Project)

- Invest in bakery company (Nippon Premium Bakery Inc.) and the upstream business through flour milling and other ancillary services.

13) Letter of Intent: Sojitz Corporation (Industrial Estate Project)
- Co-development of a general industrial park
14) Letter of Intent: JACCS Co. Ltd.

- Invest in the credit and finance business by extending credit facilities to individual and corporate buyers.

15) Letter of Intent: Terumo Corporation
- Expand investments in manufacturing, selling, and exporting medical devices (disposable syringes, needles, safety-needles, IV catheters, and urinary drainage bags) and the development of new products and new technologies in sterilization capability and eco- and smart factories.
16) Letter of Intent: Ibiden Co. Ltd.
- Expand existing investments in the manufacture of Flip Chip Ball Grid Array (FC-BGA) products, as well as capacity to cater to new drivers of growth such as artificial intelligence and establishment of data centers.

17) Letter of Intent: Sumitomo Electric Industries, Ltd.
- Build a new facility for wiring harness and related products for export to Japan and North America.
18) Letter of Intent: Mitsui & Co., Ltd.
- Develop the Philippine automotive industry through a local partner (GT Capital Holdings, Inc.)
19) Letter of Intent: Marubeni Corporation
- Develop possible new and existing infrastructure projects in energy development, New Clark City, railways, and water services

20) Letter of Intent: Furukawa Electric Co., Ltd.
- Expand the production capacity of the local wholly-owned center for wire harnesses
21) Letter of Intent: Lawson, Inc.
- Expand investments through the opening of additional convenience stores
22) Letter of Intent: Japan Marine United Corporation and Marubeni Corporation

- Develop the country’s maritime safety capability by providing maritime expertise, including but not limited to the service of design and construction of ships

23) Letter of Intent: Canon Inc.

- Expand existing investments in the Philippines for monochrome laser beam printers, including service parts, packaging materials, and optional products

24) Letter of Intent: Nidec Corporation
- Expand current investments in the Philippines as manufacturer of hard disk drives, spindle motors, and related parts
25) Letter of Intent: Mitsubishi Motors Corporation
- Expand current investment to support local production of completed vehicles
26)  Letter of Intent: Tokyo Gas
- Create an inter-island liquefied natural gas (LNG) distribution network to serve new markets for natural gas in the Philippines

In his speech, Duterte thanked Japanese businessmen for signifying their "strong intention" to invest and expand business operations in the Philippines.
He also said his government is "firmly committed to maintain a stable and predictable environment for robust business partnerships" between the Philippines and Japan.
"May I just assure you that during my time I said there will be no corruption. And every Japanese investor in my country however small or however big, I can assure you that if there’s any complaint regarding hindrances, obstruction or outright corruption, let me know," he added.

Japan is the Philippines’ second major trading partner and one of the biggest official development assistance partners. — BM, GMA News
Source and Original Article from: >>> GMA News

Comments

Post a Comment
Related Posts Plugin for WordPress, Blogger...

Popular posts from this blog

Ressa was never a war correspondent; she just watched CNN’s video tapes

Photo from Google Images Finally, Rappler Chief Executive Officer Maria Ressa revealed so starkly her delusions,  the absurd extent her humongous lies about our country and the Duterte administration. In a recent “60 Minutes” program of the American TV network CBS, she said: “The situation in Manila is far worse than any war zone that I’ve been in. In a war zone you know exactly where the threats are coming from. I plan my way in and we plan our way out and you’re there for a limited period of time. We’ve been living through three years of this kind of hell.” For somebody who pontificates in detail how to act in a war zone, Ressa was never a war correspondent To bolster her credibility, the “60 Minutes” interviewer, Bill Whitaker, even exaggerated Ressa’s background as a “war correspondent.” In Whitaker’s very first statement in his in troduction to his interview, he says, “For more than 30 years, Filipino journalist Maria Ressa has risked her life in w
Post a Comment
Read more

Duterte suggests revolutionary government ‘to correct everything’

President Rodrigo Roa Duterte (KING RODRIGUEZ/PRESIDENTIAL PHOTO/ MANILA BULLETIN) The President said on Tuesday he prefers the installation of a revolutionary government rather than to declare martial law or support a military-led coup if he cannot complete his six-year term. “You know, I said if I do not make it, huwag ninyong bitawan ito (Do not drop this). I’m not saying you initiate something like coup d’état. Huwag, kasi hindi na ‘yan tanggap ng Pilipino, eh (Don’t do that because Filipinos don’t accept that anymore),” he said at the oath-taking ceremony of newly promoted fire, jail, and coast guard officials in Malacañang. “If you want an outright…huwag martial law (not martial law). Mag-revolutionary government ka na lang. Diretso na. (It’s better to install a revolutionary government. It’s direct.) Tapos (then) you start to correct everything,” he added. The President made the remarks after discussing anew his resolve to run after those behind the controver
Post a Comment
Read more

RANKED: These will be the 32 most powerful economies in the world by 2050.

Photo from Business Insider By 2050, the world is likely to have changed drastically from what we know now, and the planet's economic and financial landscape will be no exception. A report from professional services giant PwC looks at which economies around the world will be the biggest and most powerful in 33 years time. The report, titled "The long view: how will the global economic order change by 2050?"  ranked 32 countries by their projected global gross domestic product by purchasing power parity. PPP is used by macroeconomists to determine the economic productivity and standards of living among countries across a certain time period. With the exception of the USA, many of the world's current powerhouse economies like Japan and Germany will have slipped down global rankings, replaced by countries such as India and Indonesia, which are currently emerging markets. Check out the ranking below (All numbers cited in the slides are in US dollars an
Post a Comment
Read more