Ferdinand “Bongbong” Marcos Jr. (PBBM), the current president of the Republic of the Philippines has already returned to the country on Sunday night after a five-day visit in Japan. This presidential trip has reaped a whopping amount of 13 billion dollars as a form of investment pledges. With this amount, the Philippines will most likely have its economy boosted. Also, more than 24,000 jobs are expected to be generated using the said billion-dollar investment pledges.
PBBM has stayed in Tokyo, Japan from February 8 to 12 and attended a number of roundtable meetings and conferences with potential investors and business leaders. This was an opportunity for the president to brief the people around him regarding the country’s improved business condition and investment climate. As a result, he made it possible to convince business leaders and investors, bringing home a massive amount that will help further solidify and concretize the economic environment of the Philippines.
According to Marcos, the meeting which he had attended in Japan was also joined by representatives of major private sectors. This delegation has a big and strong involvement in Japan’s industry giants. Getting pledges from them could seize economic opportunities which are now highly present in the country today.
The Tokyo trip, according to PBBM, has also given him the chance to meet a significant number of CEOs who work in Japan’s shipping associations and companies. This was a very essential part of his visit because Japan is known to be the world’s second largest in terms of maritime industry. Such shipping associations and companies currently employ 31,673 seafarers who are Filipinos.
Seventy percent of the aforementioned total number of Filipinos working in the Japanese maritime industry currently work as crew in many Japanese-owned ships. Japan’s shipping companies also have existing long-term partnerships and investments with the stakeholders of the Philippines who are deployed in maritime education as well as in welfare programs.
Talking about the meeting, Marcos described it as something “very fruitful.” This is especially true with the meeting which he had with Fumio Kishida, Japan’s prime minister. He also added that Japan and the Philippines are cohesively bound by common aspirations and shared values. Thus, the meeting has allowed PBBM to commit himself in the strengthening of strategic partnership between the Philippines and Japan. This also gave them the chance to map out a transformative and future-oriented partnership that works in responsive manners in relation to fresh and new developments.
PBBM also mentioned that his meeting with the Prime Minister of Japan has also given both of them the opportunity to concretize the two countries’ security and defense relations. They also covered a massive area of communications, information technology, and agriculture corporations. They have also signed bilateral agreements and contracts that aim to provide and render the framework for a more enhanced and mutually essential collaboration.
The Philippine president declared that Japan has committed to rendering and providing loans that are intended for infrastructure development. These loans are meant to be used for the following major projects: 1. for the North to South Commuter Railway or NSCR for Malolos to Tutuban, and 2. the project extension for NSCR. These two major projects cost 377 billion Yen, or roughly 3 billion dollars.
Apart from the highly promising results of the meetings, PBBM also said that he was deeply honored to attend meetings with an imperial audience. This is due to the fact that the said meetings were attended and graced by Japan’s Emperor Naruhito and his wife, Empress Masako. The imperial presence aimed to reaffirm the Philippines’ and Japan’s shared commitment in enhancing both countries’ cultural ties and friendship.