Japanese Firms Invited to Invest in PH

Japanese firms are urged to invest in different Philippine industries as the Department of Trade and Industry (DTI) invites Japanese investors to invest in the manufacturing, construction, and energy sectors of the country.

According to DTI, opportunities in the said industries remain high despite the pandemic.

DTI Secretary Ramon Lopez said in a virtual Philippine economic briefing for Japanese companies that interested Japanese investors may set their eyes on the semiconductor and electronic goods industries, as well as medical devices manufacturing.

The trade chief also added that demand for medical devices in the country is expected to grow as the government plans to build healthcare facilities.

Lopez further added that the local medical device market is seen to grow further moving forward–up to an annual growth rate of 8.8 percent, translating to USD884.3 million by 2024’s end.

Aside from the electronics, semiconductors, and medical device industries, Japanese investors were also invited to look into the Philippines’ local construction industry as different construction initiatives are now on the way as demand for office spaces and housing return to normal in the private sector, while the government continues the construction of healthcare facilities, transportation solutions, and the energy sectors.

Japan topped in pledging investments in the country during the first quarter of the year with investment pledges amounting to USD215.36 million. (GFB)