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3 Japanese firms bare PH investment plans

Ahead of President Rodrigo Duterte’s visit to Japan, Energy Secretary Alfonso Cusi met with top executives of three Japanese companies to tackle their proposed business plans in the country.

“They see that our president really means what he says. They believe that the president would move the country forward so by making the reforms that is necessary to encourage them to relocate such as eliminating red tape, corruption,” Cusi said in a media interview in Tokyo.

Japan’s Osaka Gas is looking into possible establishment of a liquefied natural gas (LNG) power generation project somewhere in Luzon and Mindanao, according to Cusi. The project would cost “billions of dollars,” he added.

via Osaka Gas | 2016.mb.com.ph

via Osaka Gas | 2016.mb.com.ph

Another Japanese firm, Yazaki-Torres Manufacturing, is also considering the construction of a wire road manufacturing plant in the Philippines.

via Yazaki Torres Manufactoring | 2016.mb.com.ph

via Yazaki Torres Manufactoring | 2016.mb.com.ph

The energy department has also started discussions with Tokyo-based JFE Engineering Corporation on the possible investment on the biomass power plant in the country.

via JFE | 2016.mb.com.ph

via JFE | 2016.mb.com.ph

He noted that the Japanese investors actually see the Philippines as a “safer” place for investment due to the President’s strong peace and order agenda.