DTI's Pascual: Over 5 PH, Japan deals to be inked during Marcos' Tokyo trip

Trade Secretary Alfredo Pascual said on Saturday that over five deals are set to be signed between Filipino and Japanese companies on the sidelines of President Ferdinand Marcos Jr.’s participation in the 50th Commemorative ASEAN-Japan Friendship and Cooperation Summit in Tokyo.

“Well, more than five definitely,” Pascual told members of the Malacañang Press Corps.

The Trade chief said memoranda of agreements and understandings are set to be inked on Monday, December 18, 2023.

Pascual, however, declined to disclose further details on what sectors will be involved in the deals so as not to preempt the discussions between Filipino and Japanese firms.

“It’s an expression of interest to invest in the Philippines, expressions of Japanese companies to invest in the Philippines. Some are MOUs between Philippine companies and Japanese companies,” the DTI chief said.

He said that the deals to be signed would be a testament of Japan’s confidence in the business industry in the Philippines and a “serious intent and serious plans to proceed to the investment.” 

“It’s part of the present policy of the administration in the sense that we are inviting foreign investors to come into the country and these Japanese investments are most welcome, and they’re among the largest investors in the Philippines already among all the nationalities that have operations in the country,” Pascual added. 

President Marcos is currently in Tokyo, Japan for the 50th Commemorative ASEAN-Japan Friendship and Cooperation Summit along with some cabinet officials. —VAL, GMA Integrated News