Joint meeting set to attract Japanese investments to Phl

MANILA, Philippines - A joint meeting of Filipino and Japanese businessmen is scheduled in Japan next week to promote stronger ties and encourage more investments to be made here.

Japanese Chamber of Commerce and Industry of the Philippines, Inc. (JCCIPI) secretary general Masazumi Nishizawa told reporters the joint meeting of the Japan-Philippines Economic Cooperation Committee (JPECC) and Philippines Japan-Economic Cooperation Committee, Inc. (PHILJEC) is an annual event to promote stronger ties between the Philippines and Japan.

This year’s meeting would be held from March 30 to 31 in Tokyo.

The PHILJEC is the principal group representing Filipino businessmen seeking to promote strategic economic and business relations with their counterpart Japanese associations, mainly the JPECC.

Both PHILJEC and JPECC are recognized bodies operating under but autonomously from the Philippine Chamber of Commerce & Industry and the Japan Chamber of Commerce & Industry, respectively.

Apart from encouraging stronger ties, JCCIPI executive director Nobuo Fujii said the annual meeting would be a venue to encourage more Japanese firms to invest in the Philippines.

“It is intended to attract investments (in the Philippines),” he said.

Nishizawa noted that there is growing interest from Japanese firms to do business in the Philippines.

“The interest in the Philippines is increasing compared to before because of macroeconomic conditions and big potential,” he said.

He said the Philippines is also an attractive market for Japanese firms because of the growing population.

Trade Secretary Gregory Domingo, who is set to attend the meeting, said earlier the government wants to get more Japanese firms to invest here in line with the aim of sustaining the positive economic performance and making growth more inclusive through job creation.

“Japan is one of our strategic economic partners,” he said.

Japan is currently the top market for Philippine exports and one of the biggest sources of investments.