The Department of Trade and Industry is encouraging Japan’s manufacturers to invest in the Philippines, citing the country’s growth in the sector.
“The Philippines is on an economic breakout. It is the perfect time to invest and do business in our country, which has a 6.8% GDP growth and an 8% growth in manufacturing industry. We are the best country to invest in,” said Trade Secretary Ramon M. Lopez in a statement on Monday.
The official was speaking at an event attended by over 400 Japanese manufacturing companies during a series of investment seminars on July 25-28 .
“We are very keen in engaging with Japan, especially on the aspect of manufacturing and innovation, and how we can work together to strengthen not only manufacturing but the MSMEs in their value chain as well,” Mr. Lopez added.
Manufacturing is one of the priority industries under DTI’s Inclusive, Innovation-led, Industrial Strategy (I3S). It covers electronics, automotive, shipbuilding, aerospace, and furniture. — J. C. Lim