Japanese semiconductor firms pledge billions of pesos in investments to Philippines
TOKYO— Japanese semiconductor companies have committed to invest “billions of pesos” to the Philippines - which could generate over 10,000 jobs - during the second day of President Ferdinand Marcos Jr.’s working visit here.
On Thursday morning, Marcos presided over the roundtable meeting attended by top executives from Japan's semiconductor and electronics firms - Japan Aviation Electronics Industry, Ltd.; Yazaki Corporation; Yokowo Manufacturing of the Philippines; Sumitomo Electric Industries, Ltd.; Brother Industries, Ltd.; IBIDEN Co., Ltd.; Seiko Epson Corporation; NIDEC-SHIMPO Corporation; and TDK Corporation - who are looking to expand their operations in the Philippines.
The total amount of investment commitments will be announced by the President on February 10, 2023 during the signing of the letters of intent by the Japanese companies, according to the Presidential Communications Office.
The investment pledges are expected to generate more than 10,000 jobs, which are seen to boost the administration’s initiative to create more jobs for Filipinos.
In his remarks during the roundtable meeting, Marcos said the country aspires to become “hubs of excellence for sectors where we have a natural comparative advantage.”
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