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BREAKING: P288B worth of business deals signed during Duterte’s Japan trip

By: - Reporter / @NCorralesINQ
/ 03:18 PM May 29, 2019
P288B worth of business deals signed during Duterte's Japan trip

President Rodrigo Duterte arrives at the Haneda Airport in Tokyo on Tuesday, May 28, 2019, for his four-day working visit in Japan. (Photo from Malacañanang)

TOKYO — A total of 26 business agreements and letters of intent worth P288.894 billion were signed Wednesday, during President Rodrigo Duterte’s working visit here, Trade Secretary Ramon Lopez said.

According to Lopez, the agreements are seen to generate 82,737 jobs in the Philippines.

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Lopez said the signed deals are: 

1)         Memorandum of Cooperation: 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: 1) R&D on Data Analytics, Artificial Intelligence, Automation, Internet of Things, 2) Enterprise Systems and Web Applications Development, 3) Automotive Software Development, 4) Embedded Systems Development, 5) Mobile Systems Development, and 6) 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;

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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 AFP, PNP, 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 investments 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.

“These agreements emphasize the confidence the Japanese business leaders have on the Philippines as an investor haven under the vibrant and decisive leadership of President Rodrigo Roa Duterte,” Presidential Spokesperson Salvador Panelo said in a statement. (Editor: Katherine G. Adraneda)

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