Japanese investors eye business expansion in PHL

President Aquino addresses the Joint Session of the National Diet of Japan at the Chamber of the House of Councillors (HoC) in Tokyo. (Malacanang Photo Bureau)

TOKYO, Japan — Japanese investors are pleased with the current business environment in the Philippines and have expressed strong interest in putting up new businesses or expanding their operations in the country, a Palace official has said.

Immediately after arriving here Tuesday for a four-day state visit, President Aquino had several business meetings with leading Japanese companies.

Communications Secretary Herminio Coloma, Jr.

, who accompanied the President during the meetings, said Kirin Holdings Co. Ltd has expressed interest in expanding its investments in the Philippines.

“Kirin is highly satisfied with the investment and business climate in the Philippines,” Coloma said.

The President also met with Teruo Asada, chairman of Marubeni, which has had a 105-year presence in the Philippines.

Coloma said Marubeni is upbeat about its current Philippine investments in power, energy development, water utility, and mass transportation (MRT 7 and LRT 2 extension).

The Japanese company has also shown great interest in exploring new fields of business development in the Philippines, such as in commercial vehicles.