February 11, 2023 Jester P. Manalastas 95 views

THE Philippines is getting not just interests but commitments of investment.

Proud Speaker Ferdinand Martin Romualdez said this as he disclosed that President Ferdinand “Bongbong” Marcos Jr. is very excited on the outcome of his five-day working visit to Japan.

According to Romualdez, the Philippines will be swamped by a tsunami of investments from Japan amid overwhelming interest in our country’s economic potential spurred by President Marcos’ official visit to Tokyo.

In an interview with members of the Philippine media at Hotel Okura in Tokyo , Romualdez said the kind of positive response from the Japanese government and businesses exceeded the expectations of Marcos on the outcome of his official visit to Japan.

“I think he’s thrilled. In fact I think he’s overwhelmed because there’s just this—I don’t know what’s the word—parang me tsunami ng interest; not just interest but commitments, not just from existing Japanese investors and businesses but even new ones,” Romualdez said.

“So I don’t see why we won’t be getting a deluge—or kumbaga tsunami talaga—of investments and expansion of business opportunities,” he added.

More foreign direct investments into the country would mean infusion of new capital, establishment of new businesses, as well as additional employment and business opportunities for Filipinos, according to the House leader.

Romualdez was with President Marcos when the Chief Executive asked Japanese business leaders during the Philippine Business Opportunities Forum on Friday to invest more in the Philippines with the promise of a strong macro-economy, liberal business policy, and massive infrastructure development agenda.

The Speaker noted that earlier in the day some 35 investment agreements on a wide range of areas of cooperation have been sealed between the Philippine and Japanese governments and various companies, with President Marcos as a witness to the signing of the Letters of intent (LOI).

President Marcos also announced that the business matching event arranged by the Department of Trade and Industry (DTI) for 85 Philippine companies yielded more than 255 meetings with their Japanese counterparts.

Romualdez bared that according to the report of the Department of Finance (DoF) and the Department of Trade and Industry (DTI), many Japanese businessmen have signified interest to participate in activities lined up for the President’s visit but could not be accommodated because of the limitations of the capacity of the venue.