outbrain
Close  

President Aquino in Japan

First time for peace, this time for business

President Benigno Aquino III. EDWIN BACASMAS/INQUIRER

Tokyo—Building peace with Moro rebels was the primary purpose of his unannounced visit here last month. Today (Sunday), President Benigno Aquino III returns mainly to do some business.

The President goes on a three-day trip to Japan this morning to attract more investors with promises of transparent governance and a level playing field.

ADVERTISEMENT

Trade officials are upbeat he would bring home some $1 billion in fresh investments from a country that historically has been one of the Philippines’ biggest economic partners and aid donors.

“In the area of investments, Japan continues to be one of our biggest investors, if not the biggest investor,” said Mauino Haresco, commercial counselor of the Philippine Embassy here.

FEATURED STORIES

The President took a low-key trip to Japan in August to meet with Murad Ebrahim, chair of the Moro Islamic Liberation Front, in an effort to boost on-and-off peace negotiations with the secessionist Muslim group.

On Tuesday, Mr. Aquino will meet with top business leaders at Imperial Hotel, where he is also staying. Expected at the meeting are representatives of Toyota Motor Corp., Terumo Corp., Marubeni Corp., Tokyo-Mitsubishi UFJ Ltd., Mitsui & Co. Ltd., and the Yokohama Rubber Co. Ltd.

The President will present his administration’s socioeconomic policy at the Philippine Economic Forum at 2:45 p.m. He will also sit down with officials of the Japan-Philippines Economic Cooperation Committee and the Japan and Tokyo Chamber of Commerce & Industry.

Flower export deal

According to Haresco, the investment package on the table includes a flower export deal possibly taking off in March next year and tapping the $7-billion Japanese market. At least one Japanese company will be entering into a joint venture agreement with Filipino farmers based in Mindanao, he said.

Haresco said the Philippines could also venture into Japan’s thriving okra industry, but said potential exporters must be conscious of the Japanese preference for okras that are only an inch and a half in length. They also like to eat the vegetable raw, he noted.

“If it grows more than that, (for them) it’s not okra anymore and they will not eat it,” the official explained.

ADVERTISEMENT

Major manufacturing center

Haresco also said a Japanese company would soon make a “big announcement” concerning the Philippines being a major manufacturing center for smart phones. “It’s going to be the biggest platform of this particular company outside of Japan,” he said.

A Japanese car company would soon expand production and tap the Philippines as a major collaborator, while another investment would be in the energy sector, he added.

“In fact, Japanese companies have brought bidding documents for the coming PPP (public-private sector partnership) projects announced by the Philippines,” he said.

The Aquino administration is also targeting Japan’s so-called “graying society” as a Philippine tourism market.

Valentino Cabansag, the Philippine Embassy’s tourism attaché, said the country’s popular beaches and tropical climate would be a good come-on for aging Japanese citizens.

Graying population

“When it’s very cold in Japan during winter time, that’s when they get sick, high blood pressure and all,” he said. “We are just four hours away. They can immediately come to the Philippines. It’s affordable.”

“They could stay with us for three nights, four days or (up to) a week,” he said. “These people have more time (for leisure), and I think our country is the best place for them.”

Of the current Japanese population of 127 million, 23 percent are said to be 65 years old and above.

Read Next
EDITORS' PICK
MOST READ
Don't miss out on the latest news and information.
View comments

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: $1 billion in fresh investments, graying society, Japan and Tokyo Chamber of Commerce & Industry, Japan visit, Japan-Philippines Economic Cooperation Committee, Marubeni Corp., Mitsui & Co. Ltd., Philippine tourism market, President Benigno Aquino III, Terumo Corp., Tokyo-Mitsubishi UFJ Ltd., Toyota Motor Corp., Yokohama Rubber Co. Ltd.
For feedback, complaints, or inquiries, contact us.


© Copyright 1997-2020 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.