By Brian Campued
Global technology companies continue to “place their confidence in the Filipino workforce,” the Presidential Communications Office (PCO) said Thursday, as Japanese companies expressed their intent on expanding their businesses and investing in the Philippines.
This, as President Ferdinand R. Marcos Jr. led a series of meetings with Japanese business executives in Tokyo as part of his four-day state visit to Japan, aimed at bringing home high-value investment pledges that are expected to generate more jobs and boost the economy.
Marcos’ first official engagement on the third day of his state visit was with Furukawa Electric Co. Ltd., in which opportunities for deeper cooperation in technology transfer, workforce development, supplier development, and advanced manufacturing capabilities between the Philippines and Japan were discussed.
The company also told the President of its proposed expansion in the Philippines involving advanced heat sink modules and thermal management products supporting global electronics and digital infrastructure applications.
The PCO said the project will help position the Philippines as a “competitive hub” for advanced electronics, semiconductor-related manufacturing, and digital infrastructure supply chains.
Marcos then met with representatives of Sumitomo Electric Industries, Ltd. to discuss the company’s proposed expansion in Laguna for the manufacture of flexible printed circuits (FPCs) and Surface Mount Technology (SMT) assembly products.
“The expansion is expected to strengthen the Philippines’ role in global electronics and advanced industrial supply chains amid growing demand for electric vehicles, AI (artificial intelligence)-related electronics, and advanced telecommunications equipment,” the PCO said.
Meanwhile, Japanese firm MinebeaMitsumi Inc. is pushing for investing in semiconductor back-end manufacturing, battery-related components for hyperscale data centers, Optical Image Stabilization (OIS) technologies, and advanced precision manufacturing in the Philippines.
PCO said the planned investments are expected to strengthen local capabilities in precision manufacturing and advanced electronics technologies, supporting the country’s semiconductor industry and advanced electronics supply chains.
Shipbuilding company Tsuneishi Group Corporation also expressed its plan to expand shipyard facilities in Balamban, Cebu as well as the continued development of “environmentally friendly next-generation vessels,” following the successful delivery in Cebu of the world’s first Methanol Dual-Fuelled KAMSARMAX Bulk Carrier in January this year.
On Wednesday, the PCO announced that the President has secured $3.4B worth of investment pledges or approximately P210 billion, as part of broader efforts to deepen economic cooperation between the Philippines and Japan.
-av
