Business leaders expect recent investment commitments from Japan and expanding trade ties with Vietnam to generate thousands of jobs and create new opportunities for micro, small, and medium enterprises (MSMEs) over the next several years.

Employers Confederation of the Philippines (ECOP) President Sergio Ortiz-Luis Jr. said President Ferdinand Marcos Jr.’s recent visit to Japan secured about $3.4 billion, or roughly P210 billion, in investment pledges that could generate at least 10,000 jobs.

“[There are jobs to be generated in] manufacturing, IT, mining, tourism, and hospitality,” Ortiz-Luis said in a recent radio interview, noting that some investors are looking to establish facilities that will manufacture various technologies in the country.

To help convert the commitments into actual investments, Ortiz-Luis said ECOP and the Philippine Chamber of Commerce and Industry will assist Japanese firms in identifying local business partners and exploring investment opportunities.

“We will help identify potential business matches for them, and if there are discussions or exchanges to be pursued, many of us will be there to discuss the details. This could further boost job creation as these opportunities develop, especially if the visit leads to additional investments,” he said.

Ortiz-Luis, who also heads the Philippine Exporters Confederation, also welcomed the expansion of economic ties with Vietnam, noting that bilateral trade remains below $3 billion but could increase substantially in the coming years.

“Our trade with them is at less than $3 billion, but the Vietnamese have set a very aggressive target. They want to increase it to $12 billion,” Ortiz-Luis said.