Department of Trade and Industry (DTI) Secretary Alfredo Pascual met with senior executives of Taiheiyo Cement Corporation during his official visit to Japan from 19 to 21 June 2024.
“Japan has always been a vital economic partner for the Philippines,” said Pascual. “In 2023, Japan was our second-largest trading partner and third-largest source of approved investments,”
Welcoming the potential for enhanced collaboration and investment between Taiheiyo Cement and the Philippines, the DTI secretary said, “We are committed to fostering a conducive business environment for foreign investments, and our ongoing dialogue with Taiheiyo Cement is a testament to this commitment.”
Pascual, along with other key members of the Philippine delegation, engaged in a comprehensive discussion with Mr. Shinji Fukami, senior executive officer and senior general manager of the International Business Division of Taiheiyo Cement Corporation and his team.
Current and future investment plans
The dialogue centered on Taiheiyo Cement’s current and future investment plans in the Philippines, particularly the expansion of their operations and the introduction of advanced technologies —aligned with the Marcos administration’s ongoing efforts to bolster Japanese investments in the country.
The Philippines grew by an impressive 5.6% in 2023, outpacing major economies in Asia through recent policy reforms, such as the amendments to the Retail Trade Liberalization Act and the Foreign Investments Act, which opened up key sectors to foreign investments.
Additionally, the establishment of green lanes for strategic investments streamlines processes and business operations.
Meanwhile, Taiheiyo Cement expressed confidence in the Philippines’ construction industry with plans to enhance its operations and contribute to the country’s infrastructure and environmental goals.
Boosting production capabilities
The company aims to boost its production capabilities, which will generate employment and support sustainable development.
Taiheiyo Cement Philippines Inc., a subsidiary of Taiheiyo Cement Corporation, has a long-standing presence in the Philippines, with a cement plant in San Fernando, Cebu.
