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DTI Secretary Cristina Roque discussing Philippine-Japan economic ties with Sumitomo Corp. Department of Trade and Industry (DTI) Secretary Cristina Roque cited the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act to drive fresh investments from Japanese companies into the country.
Roque and Special Assistant to the President for Economic Affairs and Investments (SAPIEA) Secretary Frederick Go visited Japan from March 3 to 4 to meet Japanese business leaders.
The DTI said this visit has resulted in ₱23.5 billion worth of investment pledges from four companies.
In a message to reporters, Roque said Japanese firms expressed enthusiasm about collaborating with the government, inspired by the recent tax reforms and policy changes.
“Specifically, what caught their attention was the recently enacted CREATE MORE Law, which offers enhanced tax incentives, simplified processes, and greater opportunities for businesses to thrive in the Philippines,” she explained.
In a report by property advisory firm Colliers, CREATE MORE was identified as a key measure in making the Philippines a favorable business environment for foreign investors.
The substantial tax reliefs under this law are attractive to companies looking to establish or expand operations, the report said.
The DTI chief shared that the companies she spoke with expressed interest in expanding their existing operations or establishing new ventures in the country.
“I leave Japan energized by the strong interest shown by these potential investors, which I hope will translate into actual investments that create employment opportunities for our people,” she added.
Among the companies Roque met in Japan include Nidec Corp., Ibiden Co., and Sumitomo Corp.
Nidec, a leading motor manufacturer, shared its interest in expanding its manufacturing footprint in the Philippines, particularly with humanoid robotics manufacturing.
Semiconductor leader Ibiden likewise sees value in expanding its current operations of advanced substrate technologies in the country.
Trading conglomerate Sumitomo, which has played a crucial role in the country’s major transportation projects such as MRT-3, is keen on investing in the renewable energy sector.
Roque also had meetings with Japanese fashion and lifestyle companies, where she secured strategic trade partnerships with Etoile Kaito & Co. and Adastria Co.
She said these collaborations will attract Japanese retail and supply chain investment, as well as boost market access for high-quality Filipino products in Japan.
“Under the ‘Bagong Pilipinas’ vision, we are committed to leveraging strong partnerships with global industry leaders to expand trade, drive innovation, and showcase the unmatched talent of our people,” noted Roque.
After leaving Japan, the Trade Secretary is now in Los Angeles, California in the United States (US) to also meet with companies about investment opportunities in the Philippines.
