ASEAN KEY DESTINATIONS
Japanese companies expand in Philippines
Phillipine President Benigno Aquino 3rd on Tuesday reported from Tokyo that four big Japanese business firms have committed to expand their presence in the Philippines.
The four firms are Perumo, Marubeni, Toyota and Muratah.
President Aquino “met with the officials of these companies at Imperial Hotel (in Tokyo) and was assured that they will expand their businesses in the country,” Presidential Communications Group chief Herminio Coloma said.
Perumo is engaged in manufacturing syringes and other medical devices.
The firm has a factory in Biñan, Laguna province, south of Manila, and it wants to acquire more land space so it could increase its production.
It was learned that Perumo planned to set up a vaccine plant in the Philippines.
Coloma said that Perumo told Mr. Aquino that its officials have praised the work ethic and skills of Filipinos and their ability to speak English.
Marubeni is partnering with local firm Aboitiz to expand Pagbilao Coal Power Plant, which will be operational by 2016.
It plans to put up another power plant in Sual, Pangasinan province, and another coal power plant in Subic, Zambales province, in partnership with San Miguel Corp.
The Sual power plant will be designed to produce 600 megawatts.
Marubeni was ready to invest at least US$1 billion in the power plant.
It has indicated interest in helping build a bridge that will connect Leyte province in the Visayas with southern Mindanao.
Coloma said that more businesses would be set up in Mindanao once the peace accord with the Moro Islamic Liberation Front bore fruit.
He added that the Aquino administration would push for the amendment of the Local Government Code to pave the way for more tax incentives to foreign investors.
Marubeni, Coloma said, is also interested in setting up a waste-water treatment facility in Metro Manila.
He added that Public Works Secretary Rogelio Singson was instructed to put up a National Water Management Council that would help Marubeni in its water sanitation projects.
Marubeni has shown eagerness in joining extension projects involving Light Rail Transit 1 and Metro Rail Transit 7 by submitting letters of intent to the Philippine government.
Toyota, which maintains an assembly plant for Innova and Vios in Laguna, will expand its workers to 25,000.
Its total production reaches about P20 billion and 30 percent of its cars are being exported.
Coloma said that Toyota was targeting to produce 100,000 cars by 2013 in time for its 25th anniversary in the Philippines.
He added that its 29 dealerships would be expanded to 65 with additional P3.6 billion in investment.
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