Trade and Industry Secretary Ramon M. Lopez made this special pitch to Tsuneishi Shipbuilding President Kenji Kawano during a roundtable meeting with the Imabari Shipbuilding Companies.
Lopez was in Japan on a series of meetings with Japanese firms as part of the government led 2018 Investment Roadshow in Japan. Lopez was also accompanied by top-level executives from local companies.
Lopez also met with Chairs and delegates from various Chamber of Commerce and Industry from Nagoya, Osaka, and Ehime Prefecture.
The trade chief underscored the government's "Build, Build, Build" program and reforms to foster investments and generate more jobs in the country during his meeting with Kansai Economic Federation Chairman Masayoshi Matsumoto and its members.
The roadshow aims to encourage leading Japanese companies as well as small and medium enterprises -- involved in auto parts, electronics, manufacturing, and shipbuilding -- to invest in the Philippines and participate in its growth story.
"The Philippines is on an economic breakout. It is the perfect time to invest and do business in our country, which has a 6.8% GDP growth and an 8% growth in the manufacturing industry. We are the best country to invest in," said Lopez to over 400 Japanese manufacturing companies during the series of Investment Seminars on 25-28 July 2018.
"We are very keen in engaging with Japan, especially on the aspect of manufacturing and innovation, and how we can work together to strengthen not only manufacturing but the MSMEs in their value chain as well," Lopez added.
Manufacturing is one of the priority industries under DTI's inclusive, Innovation-led, Industrial Strategy (I3S). It covers electronics, automotive, shipbuilding, aerospace, and furniture.
According to Secretary Lopez, Japan is the number one source of foreign investments in the country and has been providing technical assistance that can facilitate more trade and investments through the Japan International Cooperation Agency (JICA) and Japan External Trade Organization (JETRO).
During the first quarter of 2018, the approved investments in the manufacturing industry from Japan grew to P7.8-billion from P503-million in the same quarter last year.
In his discussion, Lopez highlighted government reforms implemented by President Rodrigo Duterte's administration, such as streamlining and simplifying of government processes to facilitate ease in doing business in the country. Infrastructure development, and further opening up of sectors for foreign equity participation. He also mentioned the modernization of investment incentives under the Tax Reform Acceleration and Inclusion Act Package 2 (TRAIN 2).
With the country as an ASEAN Member State, the trade chief emphasized PH's location as the critical entry point to the ASEAN market that has over 600 million people as well as possible access to the markets of ASEAN country partners. [Bernie Cahiles-Magkilat, Manila Bulletin]
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