News Release

DTI chief: Several PH-Japan deals during PBBM state visit to Tokyo ‘ready to go’


Several investments sealed between the Philippines and Japan during the official visit to Japan of President Ferdinand R. Marcos Jr. are “ready to go,” Department of Trade and Industry (DTI) Secretary Alfredo E. Pascual said Saturday.

The DTI chief made this remark after 35 key deals were signed between Philippine and Japanese government and business leaders on Friday, which were witnessed by the Philippine chief executive.

“May mga iba ready to go. May mga iba registered na sa BOI (Board of Investments)… na dinocument to meet the investments,” Pascual said in an interview.

“And there are those that [have] plans… over the time horizon I’ve heard from those Japanese investments I’ve talked to, goes to as long as three years. Normally that’s the time frame within which big investments are made,” Pascual explained.

Pascual noted as an example Japanese carmaker Toyota, which earlier bared to bring back its popular Tamaraw model to the Philippine market.

The announcement came after the President had a meeting with top Toyota executives on Friday.

“That one is progressing well… they probably have started the final plans to make the investments,” Pascual said.

Toyota said it is “honored to be given an opportunity” to strengthen its partnership with the Philippines.

President Marcos’ official working visit to Tokyo has drawn an “unprecedented number” of business delegates from Japan and the Philippines, the DTI earlier noted, making it historic for an official visit of a Filipino leader.

The DTI noted 240 Philippine companies and 1,300 Japanese firms, composed of 3,472 businessmen, registered for the meetings held in Tokyo, where a wide range of cooperation was sealed between the Philippine and Japanese governments and business leaders. #