Speaker Ferdinand Martin G. Romualdez (left) and former President-turned Senior Deputy Speaker Gloria Macapagal Arroyo (2nd from left) of Pampanga listen to the discussion between President Ferdinand "Bongbong" R. Marcos, Jr. and top executives of Japan-based semi-conductor, electronics, and wiring harnesses firms at Okura Hotel in Tokyo, where the President received billions of pesos worth of investment pledges from these firms expected to provide jobs to thousands of Filipinos. Also in the photo is Trade and Industry Secretary Alfredo Pascual (2nd from right).(Malacanang photo).
SPEAKER Ferdinand Martin G. Romualdez on Thursday expressed optimism that the working trip of President Ferdinand “Bongbong” R. Marcos, Jr. to Japan will bring in more investments and boost as well the overall trade and economic relations between the two countries.
“The President is really working hard to promote the Philippines to Japanese investors and businesses. And with the warm reception he is receiving, I am confident that he would achieve more significant gains in the few remaining days of his working visit to Japan,” Romualdez said.
He noted that in just the second day of President Marcos’ trip to Japan, the Chief Executive has already received investment pledges worth billions of pesos during a round-table meeting Thursday morning with top executives of Japan-based semiconductor, electronics, and wiring harness firms. Likewise, Romualdez said tourism stakeholders in Japan have shown keen interest in the President’s presentation during a separate meeting to outline the Philippine government’s initiatives meant to encourage more Japanese tourists to visit the Philippines.
At present, Japan ranks sixth among the country’s foreign visitors. “These are encouraging development that would eventually redound to the benefit of tens of thousands of Filipinos, in terms of new jobs and business opportunities that would further drive our economic growth,” Romualdez said.
Romualdez was among the Philippine government officials present during the two meetings, as well as at the dinner Wednesday night hosted for the Philippine delegation by Mitsui & Co. and Metro Pacific Investments Corporation.
He noted that during the dinner many Japanese businessmen and executives were also inquisitive about business and investment opportunities in the Philippines and its strong economic performance. Romualdez is part of the official delegation of President Marcos for his working visit to Japan.
Marcos earlier said the participation of lawmakers in his foreign trips is crucial in his effort to attract more foreign direct investments to the country since they could immediately address concerns prospective investors may have on existing rules as well on pending legislation that may impact the country’s business climate.
Among the pending matters in Congress that may be of interest to Japanese businessmen include the House-approved Maharlika Investment Fund, which is currently under deliberation in the Senate. There are also several bills under consideration of the House proposing amendments to the 1987 Constitution to remove restrictive economic provisions and open up the country to the entry of foreign direct investments to create more job opportunities and spur economic growth.
