THE Department of Trade and Industry (DTI) said on Monday that three investment commitments have been made by Japanese conglomerates worth a combined P51 billion.
“The investment commitments were finalized through a series of high-level meetings in Tokyo,” Trade Secretary Ma. Cristina A. Roque said in a statement.
Karaoke chain operator Koshidaka Holdings Co., Ltd. pledged to invest P34 billion to open 300 outlets over the next decade.
These outlets are expected to create 1,500 direct jobs and thousands more through construction and supply chain activities, the DTI said.
Meanwhile, Marubeni Corp. committed to make a P15-billion investment in real estate, fintech, healthcare, and afforestation ventures.
Sojitz Corp. confirmed an up to P3-billion investment in artificial intelligence, semiconductor design, software, and healthcare firms.
“Mitsui & Co. also reaffirmed its partnership with Metro Pacific Investments Corp. and Steel Asia on a steel recycling initiative that supports circular economy and decarbonization goals,” the DTI said, without providing details.
Ms. Roque said that the projects were reviewed by economic managers “to align government support and ensure an enabling environment for smooth rollout and expansion.”
“The DTI and the Economic Team will work together to ensure these projects generate quality jobs, strengthen supply chains, and advance the shift to a green, digital, and broad-based economy,” she added.
The Tokyo meetings were organized by the DTI’s team in Japan under Special Trade Representative Dita Angara-Mathay.
“The presence of the full Philippine delegation sent a powerful signal to investors,” Ms. Angara-Mathay said.
“Their collective participation assured investors of high-level government commitment and seamless coordination — giving confidence that these projects will be fast-tracked from commitment to execution,” she added. — Justine Irish D. Tabile