The Philippines is seeking to strengthen and future-proof its long-standing economic partnership with Japan, a relationship seen as critical to regional stability and growth, according to Cezar Consing, president and CEO of Ayala Corp.
The formation of a government crisis management committee is “a good start,” but faster, more targeted interventions are needed as economic pressures mount, according to Ed Chua, chairman of the influential group Makati Business Club.
The planned expansion of Tong Hsing Electronics Phils., Inc. in Laguna is set to strengthen the Philippines’ position in the global electronics value chain, according to the Philippine Economic Zone Authority (PEZA).
Economic Planning Secretary Arsenio Balisacan cautioned lawmakers that a prolonged Middle East conflict could trigger a severe economic shock in the Philippines, with surging oil prices threatening to reverse gains in poverty reduction.
The Philippines and Japan are marking 70 years of diplomatic relations with a renewed drive to expand economic, technological, and strategic cooperation, Finance Secretary Frederick Go said, highlighting the durability of one of Manila’s most trusted alliances.