THE Department of Trade and Industry (DTI) said on Monday that it sounded out two Japanese companies on expanding their operations in the Philippines, possibly in industries deemed high priority by the government.
The DTI said Acting Trade Secretary Cristina A. Roque met with Marubeni Corp. and MinebeaMitsumi, Inc., inviting Marubeni in particular to establish a bigger Philippine footprint in renewable energy, infrastructure, and technology.
“The Philippines is open for business. We are committed to creating an environment where businesses of all sizes can flourish, particularly those involved in ‘new generation’ industries that cater to the evolving needs of Filipinos,” she said.
“We are pleased to see Marubeni’s growing portfolio of investments in the Philippines. Their presence is a testament to the country’s strong economic fundamentals and the vast potential that lies ahead,” Ms. Roque said.
“We invite Marubeni and other global companies to join us in shaping the future of the Philippine economy,” she added.
Marubeni, with a longstanding presence in the Philippines, has invested in a centralized clinical laboratory called Medi Linx Conceive IVF Manila, Inc., and an artificial intelligence-based fintech service known as etomo.
“Both the DTI and Marubeni acknowledged the need to balance economic growth with responsible environmental stewardship, touching on the importance of sustainable development and environmental protection,” the DTI said.
“They discussed potential collaboration on projects that promote renewable energy, resource conservation, and climate resilience,” it added.
Dita Angara-Mathay, the DTI’s Tokyo commercial counselor, said that the Philippines is also seeking to acquire competencies in battery technology.
“This focus is driven by the fact that the country was the world’s second-largest producer of nickel ore in 2023, a key component in the production of batteries for electric vehicles,” she said.
“To capitalize on this, the Philippines is keen to attract more investment that involves the transfer of battery technology from Japan,” she added.
In a separate statement, the DTI said Ms. Roque also pitched renewable energy, electric vehicles, and food manufacturing and inspection ventures to MinebeaMitsumi.
“We see immense potential in partnering with MinebeaMitsumi to further develop our priority sectors. Their technological prowess and commitment to excellence align perfectly with our vision for a robust and future-ready Philippine economy,” she added.
According to the DTI, MinebeaMitsumi’s operations in the Philippines account for a significant portion of the company’s global footprint.
“The company expressed appreciation to the DTI for their growing manufacturing business in the country,” the DTI said.
“MinebeaMitsumi reaffirmed its intent to continue investing in the country’s semiconductor manufacturing industry,” it added. — Justine Irish D. Tabile