The Philippine delegation secured around P51 billion worth of investments during its trip to Osaka, Japan, last week, Department of Trade and Industry Secretary Cristina Roque said on Monday, September 15.
The bulk of the investments, amounting to P34 billion, will be from the operator of the world’s largest karaoke chain, Koshidaka Holdings Co., Ltd., which has expressed plans to open 300 outlets over the next 10 years, Roque said.
This particular investment is projected to generate over 1,500 direct jobs and support thousands more through construction and supply-chain activities, Roque said in her statement on Monday.
Another conglomerate, Marubeni Corporation, committed to invest P15 billion in real estate, financial technology, healthcare, and afforestation, the process of planting new forest species in areas without forest cover in recent years, the DTI said.
Sojitz Corporation, a general trading corporation, will also invest P2 billion to P3 billion in a property developer to attract firms in artificial intelligence, semiconductor design, software, and healthcare, and has expressed interest in aviation-related projects, the DTI added.
Roque said that Mitsui & Co., a major Japanese trading company, will expand its existing investment in the Philippines after it reaffirmed its partnership with Metro Pacific Investments Corp. and Steel Asia for a steel recycling entity targeted to support decarbonization efforts.
