“In receiving Japan Chamber of Commerce and Industry’s (JCCI) largest business delegation to the Philippines, we expect to further strengthen and expand our bilateral economic relations by increasing trade and encouraging more investments from existing and potential Japanese investors in our country,” Department of Trade and Industry-Industry Promotion Group Undersecretary Ponciano C. Manalo Jr. said.
The business mission to Philippines of Japan Chamber of Commerce and Industry is the first since 1992. Approximately 100 top executives of Japan’s major companies were in the country from February 4 to 7 to advance the bilateral economic relations between two countries.
Among the companies that joined the mission were Honda Motor Co., Ltd., Marubeni Corporation, Sumitomo Mitsui Banking Corporation, Japan Airlines, Co., Ltd., ANA Holdings, Inc., ITOCHU Corporation, Electric Power Development Co., Ltd., Taiyo Stainless Spring Co., Ltd., The Bank of Tokyo-Mitsubishi UFJ, Ltd., Komoto Industry Co., Ltd., Shigeru Co., Ltd., Dial Service Co., Ltd., Idea Consultants, Inc., Mitsui & Co., Ltd., Fukuda Corporation, Mitsui Mining and Smelting Co., Ltd., Sanwa Denki Kogyo Co., Ltd., Mitsubishi Corporation, JTB Corporation, IHI Corporation, Sumitomo Corporation, and Mizuho Financial Group.
“I told the President that Japanese companies’ investments are not only about money but also creating jobs in that particular country,” JCCI chairman Akio Mimura, who met President Aquino last Thursday said. “There are good points in this country which make Japanese participants want to invest in this country.”
One of the main concern he noted was power prices. “If the level of electricity price is high, that will affect international competitiveness.