The Department of Trade and Industry (DTI) said Japanese companies have ex-pressed plans to invest P23.5 billion in new and expansion projects in the Philip-pines.
In a statement on Wednesday, the DTI said the companies are looking at possible invest-ments in manufacturing, renewable energy, railways, fashion, information technology, business process outsourcing, artificial intelligence and even enter-tainment.
The DTI said Special Assistant to the President on Investment and Economic Affairs Freder-ick Go and DTI Secretary Cristina Roque led discussions with the Japanese firms during a mission on March 3 and 4 in Tokyo.
The DTI declined to provide details, but said during the meetings, Nidec Corp.; Ibiden Co., Ltd.; and Sumitomo Corp. — manufacturing companies with significant presence in the Philippines — made fresh investment commitments to further boost local technological capabilities on top of what they had committed over the past two years.
Humanoid robotics
The DTI said discussions with Nidec officials centered on its existing gearbox pro-duction in Subic Bay Freeport Zone and its strategic interest in venturing into hu-manoid robotics manufacturing, leveraging the Philippines’ skilled workforce and robust manufacturing ecosystem.
On Feb. 10, 2023, Malaya Business Insight reported Nidec was planning a $500-million ex-pansion in Subic Bay Freeport.
The DTI added Go and Roque met with officials of Ibiden, a global leader in semi-conductor substrate technology, and discussed the company’s advanced tech-nologies, its current operations within the Philippines, and opportunities for stra-tegic expansion.
High-value semiconductors
As sole manufacturer of these critical components in the Philippines, Ibiden plays a vital role in producing high-value semiconductors, supplying industry leaders such as Intel, the DTI added.
In a July 26, 2024 statement, the First Philippine Industrial Park said Ibiden was one of four companies hiring more than 1,000 workers in Batangas to support its expansion. The value of the investment was not disclosed.
Renewable energy
The DTI said on March 3, Roque met executives from Sumitomo to discuss the company’s potential for increased investment in renewable energy, the DTI said.
Sumitomo is involved in major national projects, including the Metro Manila Subway Pro-ject, the MRT Line 3 Maintenance Contract, and the First Philippine Industrial Park.
