PH, Japan ink $5.5-B business deals during Duterte visit
Credit to Author: Tempo Desk| Date: Wed, 29 May 2019 10:36:36 +0000
PRESIDENT Duterte speaks before Filipino and Japanese businessmen during a forum in Tokyo, Japan. (Presidential photo)
TOKYO, Japan – President Duterte thanked Japanese businessmen for their intention to expand their operations in the Philippines as the two countries inked 26 business deals totaling $5.5 billion yesterday.
Speaking before members of the Filipino and Japanese business delegations, Duterte thanked Japan for signing business deals with the Philippines and said it is a vote of confidence in the Philippines’ bright economic prospects.
“I am pleased to know about your strong intention to invest and expand business operations in the new sectors of Philippine economy,” he said.
The President assured the Japanese businessmen of a competitive and corruption-free business climate and a highly-skilled and fast-learning workforce in the country.
“I place my honor in what we promised to our partners especially the Japanese and the Japanese people,” he said. “We are firmly committed to maintain a stable and predictable environment for robust business partnerships between the Philippines and Japan,” he added.
“More than ‘Build, Build, Build,’ let us work together to ‘Grow, Grow, Grow’ our economies,” he said.
Duterte reiterated that there will be no corruption under his watch and assured Japanese businessmen of a response on the problem within 24 hours.
“Every Japanese investor in my country however small, however big, I can assure you that if there’s any complaint regarding hindrances, obstruction, or outright corruption, let me know,” he said.
“I will give you at any hour of the day or night you can contact any of the Cabinet members or your Filipino lawyers or Filipino workers, and you can ask an audience with me in 24 hours and I will talk to you and just let me know what your problem is and we will kill that problem,” he added.
According to Duterte, Japan has been a major source of foreign direct investments and a key trading partner of the Philippines.
The President also said that the Philippine government anticipates increased trade and investment flows because of the strong momentum generated by decades of deep economic cooperation.
“This will be sustained by our natural economic complementarities and accelerated by current efforts of our governments to lower barriers,” Duterte said.
He said that the Philippine government is also reviewing and hoping to upgrade the Philippines-Japan Economic Partnership Agreement signed in 2006 to upgrade it to a higher level of preferential arrangement that is mutually beneficial to both countries. (Argyll Geducos)