Japanese electronics manufacturer MinebeaMitsumi Inc. is pouring another P25 billion into its Philippine operations, reinforcing the country's position in the global semiconductor supply chain and creating an estimated 3,000 new jobs.
Premium tea chain CHAGEE is ramping up its Philippine expansion, growing its store network to 16 locations within eight months of entering the market and exploring opportunities to source more ingredients locally as it deepens its presence in the country.
Japanese health technology firm Tanita Corp. is considering the Philippines as the site of a new export-oriented manufacturing facility, a potential investment that could generate about P2 billion in export sales and create around 500 jobs within five years of operations.
President Ferdinand R. Marcos Jr. secured P56.3 billion in investment expansion commitments from four major Japanese firms during business meetings on the sidelines of his State Visit to Japan, promising roughly 10,300 direct and indirect jobs for Filipinos.
The Philippines and Japan have sealed a landmark new tax convention aimed at boosting cross-border investments and deepening economic ties, as both countries also move to explore possible upgrades to key regional trade agreements.