The Philippines remains to be an attractive investment destination for Japanese companies with its business-friendly environment and game-changing, liberalized laws and policies, according to the Japan External Trade Organization (JETRO).
At a briefing on the Philippine Investment Promotion Plan hosted by the Board of Investments early this month, Kazuo Nakamura, executive director of JETRO, cited the young and English-speaking workforce as well as the recent economic policy reforms of the Philippines through the passage of the Retail Trade Liberalization Act , the Foreign Investment Act and the Public Service Act.
Tomohiro Ando, investment advisor of JETRO Manila, said the quality of employees in the Philippines is better compared to those in other countries
Japan is one of the main target investors and key markets of the country.
Data from the Philippine Statistics Authority showed during the second quarter of 2022, Japan was the third biggest contributor to approved foreign investments at P6.51 billion.
JETRO’s Manila office has been cooperating with the Department of Trade and Industry (DTI) and the country’s various IPAs for many years. With its global network of more than 120 offices, including 49 in Japan and 76 in 55 other countries, JETRO holds several functions such as facilitating innovations through inward foreign direct investment in Japan and supporting startups to expand abroad.
