Japan expressed confidence of higher investments and trade with the Philippines after the latter relaxed its foreign investment restrictions.
Kazuhiko Koshikawa, Japanese ambassador to the Philippines in his speech at the launch of Toyota Motor Philippines Solutions last week, also said Japan eyes to further undertake cooperation initiatives on basic infrastructure for digital transformation in the Philippines.
Koshikawa said he recently had an opportunity to discuss with secretaries of the new administration and political leaders the possibility of utilizing the High Precision Positioning Service by Japanese satellites, weather data from the meteorological satellite Himawari, and the High Altitude Platform Station being developed by a Japanese private company.
“ I believe that such cooperation between the public and private sectors in the basic infrastructure for digital transformation will serve as a catalyst for the transition to a mobility industry, such as promotion of electric vehicles and self-driving cars in the Philippines,” Koshikawa said.
He said the relaxed foreign equity restrictions would improve the investment environment in the Philippines.
He also cited the implementation of Executive Order No. 182 of the Comprehensive Automotive Resurgence Strategy Program for contributing to the prospects of increased investment and trade from Japan.
Koshikawa said Toyota Motors Philippines Corp.’s transformation into a total mobility solutions provider signifies the future-oriented bilateral cooperation between Japan and the Philippines.
“Many achievements have been made between our two countries in a variety of fields — may it be in diplomacy, economy, technology, way of life and culture, among others,” he said.
He added Japan is the top investor, top official development assistance partner and one of the top traders of the Philippines.
“I believe that the establishment of Toyota Mobility Solutions, Inc. will be of great significance for the realization of digital transformation in the Philippines,” Koshikawa added. Irma Isip
