On Monday, Mrs. Arroyo will fly to Japan on a state visit and an investment mission.
The President said she was happy with Sankyo’s "vote of confidence" on Subic, with its projected annual export volume of $300 million while providing job opportunities to 8,000 Filipinos.
"The highly technical project is an eloquent gesture of your confidence in the economic, social and political stability of our country," she said.
Mrs. Arroyo said Sankyo is the ninth Japanese electronic manufacturing company to relocate its production site to the Philippines.
"Let us continue to work together in nation building to bring to fruition our national aspiration for sustained development, prosperity and a better quality of life for the Filipino people," she said.
Chairman Felicito Payumo of the Subic Bay Metropolitan Authority told reporters yesterday Sankyo will bring to the Philippines advanced technology, generate exports, and provide jobs to Filipino engineers, technicians and other highly skilled workers.
"Their decision to come in and even expand their present operations is a sign of their continuing and stable confidence in the Freeport as a growing icon in the world market," he said.
Payumo said Sankyo also plans to set up a software engineering center at the freeport to support its facilities and to showcase Japanese technology.
"This will be one of Sankyo Seiki’s production centers in Asia as Subic Freeport will be the showcase of Japan’s advanced technology," he said.
Payumo said the manufacturing plant will initially hire 3,500 workers by the end of the year and later take in 6,000 more by 2004.
"Some industrial estates started to retrench but it’s a wonder that SBMA, through our investors are hiring and producing jobs for the Filipinos," he said.
Takashi Maruyama, president of Sankyo Seiki (Phils.) Manufacturing Corp., said Subic Bay Freeport is the company’s top choice to set up its manufacturing plant.
"Subic Freeport is very accessible with readily available skilled and dedicated workers coupled with clean environment and secured estate and most of all, a foreign investor-friendly government and freeport administration," he said.
Yuzo Oguchi, president of Sankyo Seiki (Japan) Ltd., said the start of Sankyo’s manufacturing operations in Subic is the realization of the company’s plan to set up the most modern plant in the Philippines.
"We would have never realized our plan of locating our plant in Subic without the help of SBMA and other government organizations who went out of their way to help us," he said. – Marichu Villanueva, Bebot Sison Jr.