MANILA, Philippines – During President Rodrigo Duterte's second visit to Japan, 20 Japanese companies signed letters of intent signifying their interest to invest in the Philippines.
In total, 18 letters of intent were signed on Monday, October 30, between Japanese and Philippine companies or between Japanese companies and Philippine government agencies.
If all these letters are followed through with legally-binding agreements, they would bring a total of $6 billion or P310 billion worth of investments to the Philippines.
Among the major Philippine companies who signed on to joint ventures with Japanese companies are Meralco and Metro Pacific Investments Corporation, represented by Filipino business tycoon Manuel V Pangilinan.
Below are the 18 letters of intent signed by company representatives and government officials in the presence of President Duterte:
Pia Ranada covers the Office of the President and Bangsamoro regional issues for Rappler. While helping out with desk duties, she also watches the environment sector and the local government of Quezon City. For tips or story suggestions, you can reach her at email@example.com.