President Ferdinand R. Marcos Jr.’s productive state visit to Tokyo sends a strong signal that Japan sees the country as a good investment hub – an outcome soon to translate into more jobs and likely elevated standing among other foreign businesses, a political analyst said on Thursday.
Speaking at a Bagong Pilipinas Ngayon interview, University of Santo Tomas (UST) political science professor and Local Government Development Institute Director Froilan Calilung said Marcos’ trip effectively showcased how Manila’s dealings with Tokyo as an “economic and geopolitical partner” have grown over the years.
“Japan is one of the more, should I say, trusted countries in the whole of the world,” he said.
“Iyong tiwala ng isang bansa kagaya halimbawa ng Japan (And the trust of a country like Japan) is very, very important to send a strong message to the other countries, as well as to why they could also choose the Philippines as an investment destination hub.”
The Philippines has secured about USD3.4 billion in investment pledges from Japanese companies following a high-level business roundtable meeting led by Marcos in Tokyo on Wednesday.
The commitments were announced during the President’s meeting with top Japanese business leaders at the Imperial Hotel in Tokyo.
For Calilung, investments secured in Japan and the jobs they would generate come at a critical time, when the government is doubling efforts to cushion the impact of rising inflation and the ongoing oil crisis stemming from the Middle East conflict.
The analyst said he also sees potential for further growth in cooperation on artificial intelligence and consumer goods manufacturing, including semiconductor production and agricultural self-sufficiency.
“(T)he Philippines is being looked at dito sa (here in) Asia-Pacific region as one of the more important AI technological hubs. I think Japan will be very much interested in this, being a technologically-driven country,” he added.
During a high-level roundtable with Japanese businessmen in Tokyo, Marcos said the Philippines is pursuing a coordinated national strategy to align infrastructure development, industrial growth, finance, human capital, and connectivity to support long-term expansion, with trade and tourism positioned as central drivers of growth. (PNA)
