President touts new investment pledges, security guarantees from Japan visit | Global News

President touts new investment pledges, security guarantees from Japan visit

By: - Reporter / @JeromeAningINQ
/ 05:15 AM December 20, 2023

Prime Minister Kishida Fumio and President Ferdinand Marcos Jr. on Sunday agreed to speed up talks of a prospective visiting forces deal that would allow the armed forces of each country to enter each other’s territories. 

President Ferdinand Marcos Jr. attends the kickoff of the Asean-Japan Summit in Tokyo on December 17, 2023. Photo from PCO

President Marcos said on Monday that he brought new investment pledges as well as security and cooperation guarantees from his four-day trip to Tokyo where he attended the Association of Southeast Asian Nations (Asean)-Japan Commemorative Summit.

“My administration will see to it that our constructive engagements with Asean, our external partners, our stakeholders continue to best serve our national interest in as much as we promote the regional interest of peace and prosperity for the well-being of our people,” the President said in a video message posted on his official social media pages.


“Without a doubt, this summit reaffirmed the robust and enduring character of Asean-Japan relations,” he added. Mr. Marcos and his delegation arrived in Manila at 10:38 p.m. on Monday.


In his message, the President also gave an update on business commitments made by Japanese partners during his earlier visit in February, saying that P169.7 billion in capital investments had since been made, generating 9,700 new jobs in the Philippines.

P14.5B investments

In his latest visit, nine new letters of intent and memorandums of agreement (MOA) were signed, valued at P14.5 billion in investments, and over 15,750 additional jobs for Filipino workers.

“I’m also pleased to update that the letters of intent and MOAs signed in February 2023, together with those signed during this visit, now total P771.6 billion or approximately US$14 billion in pledges from Japanese investors,” Mr. Marcos said.

“This significant investment is anticipated to create around 40,200 jobs, marking a positive and promising development for our collaborative efforts,” he added.

The President said he discussed with Japanese Prime Minister Fumio Kishida and other leaders the future of Asean-Japan relations as he also emphasized the need for Asean to have an active role in maintaining peace, security and stability in the region.

Another point taken up was the need to promote respect for sovereignty and territorial integrity, settlement of differences or dispute through peaceful means, and renunciation of threat or use of force.


On the plight of Myanmar’s people, Marcos said he urged all stakeholders for proactive engagement to resolve the dispute through the 5-Point Consensus, United Nations mechanisms, as well as the Asean Coordinating Centre for Humanitarian Assistance on Disaster Management. INQ

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TAGS: Ferdinand Marcos Jr., Foreign Investments, PH-Japan relations

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