THE PHILIPPINES and China inked 14 bilateral agreements covering infrastructure, agriculture, trade, and tourism, among others, during President Ferdinand R. Marcos, Jr.’s meeting with Chinese President Xi Jinping
Finance Secretary Benjamin E. Diokno and Chinese Minister of Commerce Wang Wentao signed the handover certificate of two China-funded bridge projects in the capital Manila — the Binondo-Intramuros bridge and the Estrella-Pantaleon bridge.
The Department of Finance (DoF) in a separate statement said the cumulative loan commitments with China for ongoing Philippine projects now stand at $1.06 billion after four individual loan agreements worth $201.8 million were co-signed by Export-Import Bank of China Chairman Wu Fulin. The new loans will fund bridge projects crossing the Pasig-Marikina River and Manggahan Floodway.
The signing of a framework agreement for the implementation of the said projects “gives the Philippines access to the renminbi (RMB)-denominated government concessional loan facility portion of the loan,” the DoF added.
"tandaan may loan dito"
“In terms of substance, most of the 14 bilateral agreements signed between the two countries this time around are very similar to the 2016 agreements brought home by his predecessor six years ago in a similar trip,” Enrico V. Gloria, who teaches foreign relations at the University of the Philippines said in a Facebook Messenger chat.
most of the 14 bilateral agreements ay signed similarly noong 2016 may bago? siguro iilan....
Filipino foreign policy experts have viewed the meeting between Mr. Marcos and Mr. Xi with skepticism, citing China’s failure to deliver on its investment promises to the Duterte administration.
nung panahon daw ni duterte china fail to deliver its investment promises
.sayang ba pera sa pagpunta sa china? well anjan na nilapag ko na bahala ka na kung ano sa tingin mo
.Ngayon nasa japan sya ano naman napagkasunduan nila?
35 investment deals inked during Marcos Japan visit.
TOKYO — Thirty-five investment deals on infrastructure, energy, manufacturing, and healthcare have been sealed between the Philippine and Japanese governments and various companies on Friday, the third day of President Ferdinand Marcos Jr.’s official visit here.
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Marcos witnessed the signing of Letters of Intent (LOI) on investments and agreements, seen to further bilateral relations between the Philippines and Japan.
Among the business deals inked were wiring harness manufacturing expansion project with Asti Corporation; a printer manufacturing expansion project with Brother Industries Ltd.; a hotel construction project with DoubleDragon Corporation and IwataChizaki Inc.; and a factory expansion project with Japan ******* Inc.
Also included in signed were LOIs for a new factory for autoparts with Kurabe Industrial Co, Ltd.; energy, transportation, healthcare, and afforestation projects with Marubeni Corporation; and automobile manufacturing expansion project and a commitment renewal to meet production targets with Mitsubishi Motors Corporation.
The 35 LOIs and agreements are as follows:
- Government-to-government memorandum of cooperation between the Department of Trade and Industry and the Japan External Trade Organization for bilateral investment cooperation mainly through exchange of information
- Nomura Real Estate Development Company Ltd. and Federal Land memorandum of understanding (MOU) to reaffirm commitment to jointly undertake and invest in real estate projects and retail businesses in the Philippines
- Kawasaki Heavy Industries, IKS Company Ltd., and Amber Kinetics Inc. and Aboitiz Power Corp. agreement to form a consortium for the implementation of a mechanical energy storage projects that will be serving the Philippines, Japan, Southeast Asian nations, and Australia
- JERA Co. Inc and Aboitiz Power Corp. to work together to assess potential for greener fuels including ammonia and hydrogen to support decarbonization efforts
- MinebeaMitsumi Inc. LOI to open up a new factory that will manufacture state-of-the-art optical image stabilizers and a notable solar power project in the country
- Go Negosyo and MSME Development Council certificate of gratitude to the Ministry of Foreign Affairs of Japan for its support of the Philippines’ entrepreneurial mentorship program
- Japan ******* Inc. LOI to infuse additional investments in the Philippines for factory expansion, marketing, and sales, which will translate to 600 new jobs for Filipinos
- Marubeni Corp. LOI reaffirming intention to get into new investment projects in the fields of infrastructure development, energy, transportation, healthcare, and afforestation projects
- Marubeni Corp.’s Power Division and Oriental Energy and Power Generation Corp. memorandum of agreement (MOA) on pursuing projects on energy transformation, healthcare, and afforestation
- Brother Industries LOI to construct a third factory for producing various types of printers
- Taiheyo Cement Corp. LOI to expand operations in the Philippines with a kiln renewal project that will increase its cement production capacity
- Itochu Corp. through partnership with DOLE Philippines to significantly increase pineapple production volume, which is expected to generate new employment
- TDK Corp. LOI to construct a second factory building adjacent to its manufacturing facilities in Laguna TechnoPark for the manufacture next generation HDD heads and other components
- DoubleDragon Corp. and Iwata Chizaki Inc. agreement to put up a hotel project in Hokaido, Japan
- Murata Manufacturing Company Ltd LOI to put up the design, manufacture, and sale of ceramic-based electronic components
- Nidec Corp. LOI to invest in new blocks in their existing Subic factory to substantially increase production capacity of medium-size speed reducer gears to meet growing global demand
- Mitsubishi Corp. LOI to affirm intention to participate in infrastructure activities, transportation, commercial and residential real estate development, and mass housing projects in the Philippines
- Mitsubishi Motors Corp. LOI to renew target production commitments under the Philippines' CARS (Comprehensive Automotive Resurgence Strategy) program and expand automotive manufacturing activities in the Philippines by adding another locally assembled vehicle model in its production line up
- Vista Land and Lifescapes Inc. and Mitsubishi Estates Company Ltd. agreement to enter into a joint venture for the development of land intended for horizontal and vertical residential projects, office buildings, and commercial real estate development projects
- Renova Inc. LOI to expand current renewable energy operations in the Philippines
- Toyota Motors Corp. LOI to establish a new light commercial vehicle manufacturing project and further plans for additional investments specifically for the localization of a wide-range of automotive parts
- Sumitomo Corp. LOI to upgrade and upscale Philippine rail systems. Sumitomo is the winning bidder to supply 648 rolling stocks for both NSCR and Metro Manila Subway. The company is expected to extend its maintenance contract for MRT-3 rehabilitation to 2025
- Ubicom Holdings Inc., Advance World Systems Inc,and Alsons/AWS signify intention in areas of software development outsourcing
- Hankyu Hanshin Properties Corp. and W Landmark agreement intent to co-invest in REIT and joint venture in commercial real estate activities
- Kurabe Industrial Corp. LOI to invest in production facility for the manufacture of automotive seat heaters, steering wheel heaters, and heating wires in Lima Technology Center-Special Economic Zone
- Yamaichi Electronics LOI to expand investment footprint in the Philippines with a third factory for IC sockets for semiconductor testing and connectors with a target completion date of 2024
- Asti Corp. LOI to set up a production unit intended to start a high capacity facility as part of its expansion plans in the Philippines for high quality products such as wiring harnesses —expected to generate employment over the course of three-year rollout plan
- Tamiya Inc. LOI to invest in the construction of a new factory in the Cebu Light Industrial Park dedicated for the production of Tamiya’s popular products
- Kenko Tokina Company Ltd LOI to acquire a new factory building and establish a new company that will assemble SMT (surface mount technology) products in 2023. The new SMT product line will produce electronic systems of range finders, ***** scopes, and other optical products
- Hitachi Aquatech Engineering Pte Ltd and Filinvest Development Corp. agreement for the development, construction, and operation of a desalination facility to supply potable water to Metropolitan Cebu and engage in other similar projects
- Sojitz Corp. LOI involving the building and development of a site for completion in June 2025 —the project will seek to obtain LEED certification.
- Sojitz Corp. LOI to build a digital telecommunications infrastructure project.
- Sojitz and Maestro Holdings Inc joint venture partnerships in insurance, healthcare, logistics, and education
- Marubeni Corp., Dacon Corp., and Department of Environment and Natural Resources agreement to adjoin carbon credit program to the JCM or voluntary credit system to establish reforestation program in the Philippines
- Bases Conversion and Development Authority and New Energy and Industrial Technology Development Organization MOU involving development of smart mobility system
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