Philippines, Japan to ink 10 agreements

THE Philippines and Japan are expected to sign at least 10 business deals during President Rodrigo Duterte’s visit to Tokyo at the end of the month to speak at a business conference, Trade Secretary Mon Lopez bared.

He said the deals include investments in electronics, manufacturing, and artificial intelligence, as well as agreements related to energy, transportation, and tourism including theme parks.

“So far we have mga two MOUs (memorandum of understanding) and mga eight na letters of intent. In other words companies that are already here that are intending to expand their operation, invest more, expand the operations,” he said in a chance interview.

Lopez said the amount of the deals are “substantial,” adding there may be more signed agreements.

“These are big Japanese companies na we cannot also ignore, they still want to express their support and confidence for the current administration and they want to indicate their intent to invest more,” he said.

Duterte heads to Tokyo as a keynote speaker at the 25th NIKKEI Conference on the Future of Asia, which will be held from May 30 to 31. He will be joined by the Philippine business delegation. Lopez said Duterte is expected to discuss the S&P credit rating upgrade.