THE President needs to go out of the country to promote the Philippines as a viable destination, Employers Confederation of the Philippines (ECOP) President Sergio R. Ortiz-Luis Jr. said, a day after President Ferdinand R. Marcos Jr. concluded his visit to Japan with an estimated $13 billion of combined contributions and investment pledges for a wide range of projects.
“We are happy that the President is doing everything he can despite the criticisms with regard to his state visits,” Ortiz-Luis said, partly in Filipino, in a televised interview on Monday.
The ECOP chief stressed the need for state visits to foster trade and create jobs for Filipinos. He added, mostly in Filipino, “And we are happy that he applies his energy to this, and appreciate it.”
In his arrival speech late Sunday at Villamor Airbase in Pasay City, Marcos said the commitments are expected to generate an approximate 24,000 jobs.
For his part, Ortiz-Luis said, “It’s not impossible to get 24,000 additional jobs there.”
ECOP is the umbrella organization of the business community in the Philippines, tackling national issues related to employment, industrial relations, labor issues, and related social policies.
Ortiz-Luis said he witnessed many Filipino employees working in the hotels and restaurants that they visited in Japan. He added that there could be more than 300,000 Filipinos currently employed in Japan.
Meanwhile, the ECOP chief expressed confidence that among the investment pledges secured from Japan, he thinks the Philippines will benefit most from the infrastructure pledges.
However, he mentioned that the country can also benefit from the areas of services, agriculture, IT projects, and flood control, among others.
“Well, the ones in infrastructure are most remarkable. There are several in services and agriculture, as well as IT projects. All of those are important.” He noted that the flood control projects that were signed are also vital. “All of those are good, I hope they can start right away,” Ortiz-Luis said.
A total of 35 letters of intent (LOI)/agreements were forged between Philippine and Japanese representatives during the discussions covering manufacturing, infrastructure development, energy, transportation, health care, renewable energy, and business expansion.
7 bilateral agreements
Marcos cited as another highlight of his visit the government’s signing of seven bilateral agreements with its Japanese counterpart covering humanitarian assistance, disaster relief, infrastructure, agriculture, and digital cooperation.
On infrastructure, Marcos signed about 377 billion Japanese yen or the equivalent of about US$3-billion loans for the North-South Commuter Railway for Malolos to Tutuban and North-South Commuter Railway Project extension.
Also on Sunday, the Presidential Communications Office (PCO) disclosed that Japanese firm Mitsui & Co. will invest at least US$600 million in the country for infrastructure development.
The PCO disclosed that Mitsui will partner with Filipino tycoon Manny V. Pangilinan for the infrastructure project.
Since assuming the presidency on June 30, 2022, Marcos has gone on eight official foreign trips. He has traveled to Indonesia, Singapore, Cambodia, Thailand, United States, China, Belgium and Switzerland, to attend the 2023 World Economic Forum (WEF). Similarly, he recently traveled to Japan to establish partnerships and attract investments.
