Davao City expects influx of Japanese investments after PM Abe’s visit

Davao City expects influx of Japanese investments after PM Abe’s visit

- in News
File photo KING RODRIGUEZ/Presidential Photo

DAVAO CITY, January 16, 2017 — The Davao City government is expecting an influx of Japanese investments after the visit of Japan Prime Minister Shinzo Abe in Davao last week.

“We are confident as Davao City has successfully gained more interest from the Japanese businessmen,” Davao City Investment and Promotions Center head Lemuel Ortonio said in a statement.

In a video presentation, Ortonio showed the 10 most preferred investment areas in Davao, the diverse tourism activities, and priority programs of the local government.

The 10 investment areas are the following:

  1. agriculture business sector
  2. tourism and recreational facilities
  3. light manufacturing and assembly
  4. property development
  5. health and wellness, educational, and sports facilities
  6. environmental protection and green projects
  7. information and communication technology
  8. generation of new sources of energy
  9. transportation and infrastructure
  10. public-private partnership projects

Councilor Danilo Dayanghirang, speaking for Mayor Sara Duterte during the Philippines-Japan Business Forum held at the Waterfront Insular Hotel on January 13, said one reason for Japan’s confidence in investing in Davao City is the strong peace and security programs laid down by the administration.

The forum, held during Abe’s visit, was attended by around 20 Japanese businesspersons and representatives from such companies as Marubeni, Mitsubishi, Itochu, Sumitomo, Toyota, and Mizuho.

Executives from Chodai Company Limited, Sumifru (Philippines) Corporation, and Concentrix, which all have established bases in the city, also shared their business success stories to the Japanese delegation.

The city’s pitch was also supported by Trade and Industry Secretary Ramon Lopez, who presented the country’s growth trajectory and investment opportunities.

Lopez said the Philippines is a great trade and investment partner for Japan because of its growing and stable economy, improved competitiveness and investment grade, strategic location in Asia, and human capital advantage.

He also noted several key programs that the administration of President Duterte has been undertaking, particularly the 10+1 economic agenda and the Comprehensive National Industrial Strategy.

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