A Japanese wellness firm, Nambu Co. Ltd., is set to invest P4 billion to build a network of ten retirement facilities across the Philippines, the Department of Trade and Industry (DTI) said on Friday.
The investment was confirmed following a meeting between the Philippine delegation and the company in Osaka, Japan.
The project is backed by the CREATE MORE (Corporate Recovery and Tax Incentives for Enterprises – Maximize Opportunities for Reinvigorating the Economy) Act, which offers tax incentives to attract foreign investments.
A key part of the plan includes specialized training for Filipino caregivers to meet high Japanese care standards.
DTI secretary Cristina Roque said the initiative supports the country’s goal to become a regional hub for retirement and wellness while creating quality jobs.
“This initiative aims to leverage the country’s skilled workforce to meet Japan’s labor needs while simultaneously boosting local employment,” DTI statement said. — Marlon Magtira
