Duterte's Japan trip expected to yield P300B in deals, thousands of jobs for Filipinos

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FILE PHOTO

Metro Manila (CNN Philippines, May 28) — Filipino and Japanese firms are seen to sign over 20 business agreements amounting close to P300 billion when President Rodrigo Duterte visits the east Asian country, the Department of Trade and Industry said on Tuesday.

In a statement, DTI said the deals that will be signed at the sidelines of Duterte's trip to Japan for the 25th NIKKEI Conference on the Future of Asia, which will be held from May 30 to 31, will provide at least 80,000 jobs to Filipinos.

"Japanese investors remain bullish on the sustained growth momentum under the administration of President Duterte, given its aggressive infrastructure build-up, meaningful investment and financial reforms, and demographic advantages," Trade Secretary Ramon Lopez said.

DTI said the signed investment pledges will mostly be in infrastructure, manufacturing, electronics, medical devices, business process outsourcing (BPO), power, electricity, transport, automotive, food manufacturing, and marine manpower industries. Lopez is expected to witness the signing of the business agreements.

Duterte will leave for Tokyo on Tuesday afternoon.

He is scheduled to have a bilateral meeting with Japan Prime Minister Abe Shinzō after his keynote address at the Nikkei Conference on May 31, but there will be no agreements signed during the two leaders' meeting, the Department of Foreign Affairs said.