The Philippine Economic Zone Authority (PEZA) has noted the renewed interest of Japanese investors in the Philippines.
Vivian Santos, PEZA deputy director general, in a press briefing on Monday said while Japan’s preference is still on manufacturing, interests were generated from proponents of new and emerging industries and small and medium enterprises at an investment mission in Osaka and Okayama on December 6 to 10.
Santos said the mission was mounted in preparation for President Marcos’ state visit to Japan in February which wlil coincide with the celebration of Japan+Asean 50th anniversary.
She said the mission was an opportunity to meet with officials of would-investors.
Junca Holdings discussed the company’s upcoming bio-technology activity to be registered with PEZA.
Santos said partner companies of Junca Holdings such as Synergy and Global Network Japan are also exploring the possibility of putting up a tourism economic zone and an anaerobic / waste-to-energy water treatment plant in the Philippines through PEZA.
According to Santos, Shibutani Shoten Corp., manufacturer of car seat, arm rest and headrest covers for big car companies such as Mitsubishi and Mazda, met with PEZA to discuss its plans of setting up a factory in the country, possibly in Calabarzon where most automotive companies are located.
Santos said expansion plans are being planned by Marukame Trading Co. Ltd. and VALTES Co. Ltd. which are looking at employing additional 100 manpower for its operations in the Mactan Economic Zone and Trafalgar Plaza Building, Makati, respectively.
Santos said Nakashima Propeller Co. Ltd., a global industry leader in the manufacture of marine equipment such as sea vessel propellers, rudders, and shafts, is looking forward to bringing in new technology and incorporating innovation to its plants worldwide, in its facility in the Cavite Economic Zone.
Inabata Philippines Inc., a leading ecozone logistics provider, is looking at expanding its warehouse footprint in the next two years to cater to its client ecozone locators nationwide.
Another expanding investor is Showa CREATE Cebu Inc., which operates in Mactan Economic Zone and is now scouting for a separate location in the Calabarzon.
Tereso Panga, PEZA director-general, in a social media post, said some business delegations from Osaka and Okayama are set to travel to the Philippines by first quarter next year to explore investment opportunities in the ecozones.
In a statement, Tereso Panga, PEZA director-general said to date, there are a total of 891 Japanese enterprises registered in PEZA and located in various PEZA ecozones nationwide. These companies contribute P746.093 billion of investments from 1995 to November 2022. The Japanese remain the top investors in PEZA comprising 27.52 percent of its total investments.
Panga noted bright prospects from Japan on new ecozone development projects ;
continuous expansion of existing Japanese ecozone locators into EMS and SMS, chemicals (oleo, activated carbon), automotive and automotive parts, computer and optical products, and transport and logistics; Japanese SMEs going global and upscaling of production through the Japan International Cooperation Agency’s official development assistance program to link the developing countries with Japanese SMEs as an invaluable source of FDI, diverse technologies and expertise;Japanese government’s stimulus for Japanese manufacturing companies in China to shift their production to Asean, among other factors.
