In photo: (From the Philippine side) Department of Trade and Industry (DTI) Acting Secretary Cristina A. Roque along with PTIC Tokyo Commercial Counselor Dita Angara-Mathay; (From the Japan side) Global Planning & Coordination Department Senior Adviser Mr. Yasuhiro Morimoto, Finance & Leasing Department Assistant General Manager Mr. Bunboku Chou, Senior Operating Officer for CSO; President & CEO, Marubeni Institute Executive Officer Mr. Takashi Imamura, Representative Director, Member of the Board Senior Executive Vice President Mr. Akira Terakawa, and Global Planning & Coordination Department; Regional CEO for East Asia General Manager Mr. Kensuke Tatsukawa

Tokyo, Japan­ — Department of Trade and Industry (DTI) Acting Secretary Cristina A. Roque met with Marubeni Corporation on September 12, emphasizing the country’s openness to “new generation” investments.

Secretary Roque highlighted the Philippines’ robust economic growth, driven by a burgeoning middle class and a dynamic MSME (micro, small, and medium enterprise) sector. She outlined the government’s proactive support for these sectors, including initiatives aimed at enhancing access to finance, promoting digitalization, and facilitating market access.

“The Philippines is open for business. We are committed to creating an environment where businesses of all sizes can flourish, particularly those involved in ‘new generation’ industries that cater to the evolving needs of Filipinos,” said the trade chief.

“Our focus on international trade and investments, consumer protection and fair trade, and MSME development underscores our dedication to building a sustainable and inclusive economy,” she added.

Marubeni Corporation, a long-standing investor in the Philippines, expressed its continued interest in expanding its presence. Secretary Roque welcomed this commitment and encouraged further exploration of opportunities in sectors like renewable energy, infrastructure, and technology.

“We are pleased to see Marubeni Corporation’s growing portfolio of investments in the Philippines. Their presence is a testament to the country’s strong economic fundamentals and the vast potential that lies ahead. We invite Marubeni and other global companies to join us in shaping the future of the Philippine economy.”

Recognizing the importance of healthcare and disease prevention, Marubeni has invested in Medi Linx, a centralized clinical laboratory that offers advanced Japanese technology and know-how. Medi Linx focuses on health checkups, preventive testing, and research and development for preventive and genetic testing, contributing to the well-being of Filipinos.

Moreover, the company’s investment in Conceive IVF Manila Inc. underscores the company’s commitment to supporting family planning and reproductive health in the Philippines. The clinic offers comprehensive IVF-related services to assist couples with fertility issues, helping them build families and achieve their dreams of parenthood.

Marubeni also empowers MSMEs through its AI-based fintech service, “etomo.” This smartphone application provides virtual credit lines to MSMEs who may have difficulty accessing traditional financing, enabling them to grow their businesses and contribute to the Philippine economy. This is in line with the Department’s mandate to provide MSMEs with access to financing and strengthen the Philippine business environment.

(L-R): PTIC Tokyo Patric Razo, Senior Operating Officer for CSO; President & CEO, Marubeni Institute Executive Officer Mr. Takashi Imamura, DTI Acting Secretary Cristina A. Roque, Representative Director, Member of the Board Senior Executive Vice President Mr. Akira Terakawa, PTIC Tokyo Commercial Counselor Dita Angara-Mathay, Global Planning & Coordination Department; Regional CEO for East Asia General Manager Mr. Kensuke Tatsukawa, and PTIC Tokyo Hirokazu Sotoyama

In the meeting, both the DTI and Marubeni Corporation acknowledged the need to balance economic growth with responsible environmental stewardship, touching on the importance of sustainable development and environmental protection. They discussed potential collaborations on projects that promote renewable energy, resource conservation, and climate resilience.

Commercial Counselor Dita Angara-Mathay of the DTI field office in Tokyo, who organized the meetings, noted that the Philippines seeks to acquire competence in battery technology.  This focus is driven by the fact that the country is the world’s second-largest producer of nickel ore in 2023, a key component in the production of batteries for electric vehicles. To capitalize on this, the Philippines is keen to attract more investments that involve the transfer of battery technology from Japan.

Marubeni Corporation, a major Japanese “sogo shosha” or general trading house, boasts a vast global presence and operates across various industries. Its Philippine operations started over 110 years ago as an abaca trader, but the company has since diversified into various sectors, including power, transportation, food, petrochemicals, water treatment, industrial estate, healthcare, IT, and fintech industries. ♦

Date of release: 16 September 2024

Related posts:

DTI Chief touts stronger economic ties with MinebeaMitsumi, targets investments in PH priority sectors DTI cites strategic measures to lower logistic costs and enhance supply chain efficiency DTI Chief backs First Lady’s “Lab for All” in Cebu DTI celebrates PH franchise excellence, pledges support for franchise sector DTI strengthens enforcement of Vape Law, reminds traders to comply DTI lauds House committee approval of proposed Clark National Food Hub Act SBCorp open loan facility for typhoon-hit enterprises Discover the Special Pavilions at the 2024 DTI Bagong Pilipinas National Trade Fair