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Phl, Japan to ink P300B deals

AJ Bajo



Philippine and Japanese firms are set to sign 20 business agreements worth near P300 billion ($5 billion) by end-May, the Department of Trade and Industry (DTI) said on Monday.

The agreements, seen to generate at least 80,000 jobs, will be signed at the sidelines of president Rodrigo Duterte’s visit to Japan for Nikkei’s 25th International Conference for the Future of Asia on 30 to 31 May.

“Japanese investors remain bullish on the sustained growth momentum under the administration of president Duterte, given its aggressive infrastructure build-up, meaningful investment and financial reforms and demographic advantages,” DTI secretary Ramon Lopez said.

The investment pledges will primarily be in infrastructure, manufacturing, electronics, medical devices, business process outsourcing, power, electricity, transport, automotive, food manufacturing and marine manpower industries, DTI said.