Tokyo, Japan—”The DTI welcomes this opportunity to meet with Marubeni Corporation executives to strengthen the economic ties between the Philippines and Japan. The company’s continued presence can be a significant driver of our economic growth, particularly through further investments in infrastructure projects aligned with the Philippines’ renewable energy goals,” said Department of Trade and Industry (DTI) Secretary Fred Pascual.

Along with the other Cabinet secretaries, Secretary Pascual met with Marubeni senior executives from the Infrastructure, Global Planning, Next Generation Business Development, Finance, Leasing and Real Estate divisions, to discuss new and strategic investment opportunities within the country for Japanese companies like Marubeni Corporation.

The discussion focused on the Philippines’ efforts to improve the investment climate for Japanese companies. This included government initiatives to create a more attractive environment for Japanese businesses through improved infrastructure and fiscal incentives, as well as a streamlined process for business entry and operations.

Secretary Pascual also elaborated on the government’s food security agenda and emphasized that the DTI is the lead agency tasked with implementing President Ferdinand R. Marcos Jr.’s recently approved three-year food logistics action agenda. This plan has spurred upgrades in food terminals and the development of efficient logistics systems, including cold chains.

To further strengthen food security, the DTI also supports agribusinesses, including farmers and food processors, through capacity-building programs, technology adoption, and market linkages. These efforts aim to enhance agricultural productivity, improve post-harvest practices, and promote the growth of food-related enterprises.

Aligned with this focus on food security, Secretary Pascual mentioned specific investment opportunities, citing value-added processing of abundant commodities such as banana flour from bananas and new coconut products.

Beyond food security, the discussion broadened to other attractive investment sectors. Aside from investments in connectivity and infrastructure, the real estate sector was mentioned as ripe for investments in mixed-use developments and industrial estates.

Since its establishment in the Philippines in 1909, Marubeni has consistently advocated for the country’s infrastructure development and championed numerous landmark projects.  In the critical energy sector, Marubeni has played a key role in the San Roque Multipurpose Project, TeaM Energy Corporation’s thermal power plants, Shin Clark Power Holdings, Inc.’s power distribution, Ingrid Power Holdings, Inc.’s diesel-fired plants, and Isabel Diesel Fired Power Project’s ancillary services—all ensuring reliable and efficient energy supply that propels the nation’s economic engine.

The company is currently exploring new frontiers with a focus on sustainability. Marubeni is pursuing Smart Grid and Floating Solar projects in New Clark City, paving the way for a greener future. Additionally, the company is exploring Offshore Wind Power Projects to harness the Philippines’ abundant renewable resources. 

Marubeni also recognizes the importance of environmental stewardship and is spearheading a Joint Carbon Credit Program through afforestation, aiming to combat climate change and promote a healthier environment.

Beyond its existing ventures, Marubeni announced a comprehensive plan to invest in innovative and sustainable energy solutions across the country. This multi-faceted initiative will focus on expanding power generation capacity, fostering grid modernization, and integrating renewable energy sources.

The Philippines welcomed Marubeni’s interest to participate in emerging sectors that promise mutual benefits and pledged support to sustain a dynamic business ecosystem, conducive to foreign investors.

Recent policy reforms have opened wider doors for foreign participation in key sectors, including amendments to the Retail Trade Liberalization Act, Foreign Investments Act, Public Services Act, and Renewable Energy Act. Moreover, the establishment of green lanes for strategic investments signifies the government’s dedication to enhance efficiency in processing investment applications.

Such policy developments are paving the entry of more foreign direct investments in air transport, telecommunications, shipping, retail, and renewable energy projects.

“The Philippine administration continues to seek ways to make the business environment in the Philippines more conducive for foreign investments. Our commitment to foster a conducive business ecosystem is evident in recent policy reforms, opening wider doors for foreign participation in key sectors,” said Secretary Pascual.

“One with the entire Philippine government, we at the DTI stand ready to support Japanese companies like Marubeni through the more streamlined processes needed to navigate our investment landscape. We are confident that by working together, we can unlock even greater economic prosperity for both our countries,” he added.

Marubeni has been in the country for more than a century. From its humble beginnings as a trader of textiles and abaca, the company now boasts a diversified portfolio encompassing domestic trade, import and export, infrastructure projects, power and water utilities, heavy equipment distribution, plant construction, and a growing presence in healthcare and finance. ♦

Date of release: 21 June 2024

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