Manila wants Japan electronics firms to extend operations
Japan electronics firms – According to the Department of Trade and Industry, the Philippines is seeking expanded cooperation with Japan in the production of semiconductors, electronics, and wiring harnesses (DTI).
In an interview following a roundtable meeting with Japanese companies with export-oriented investments in the Philippines, Trade Secretary Alfredo E. Pascual stated that 11 major Japanese firms presented their current operations and future investment plans.
“With supply expected to increase in the global market, we want to discover how we might encourage you to expand and upgrade your activities in the Philippines,” the Trade Secretary said in his opening statement.
According to a DTI statement issued on Thursday, the dialogue allowed investors to express their concerns and Philippine Cabinet members to explain what steps are being taken to address these concerns.
Japan electronics firms
The following companies were present at the roundtable meeting on February 9: Brother Industries, Ltd., IBIDEN Co., Ltd., Murata Manufacturing Co., Ltd., Seiko Epson Corporation, NIDEC-SHIMPO Corporation, Japan Aviation Electronics Industry, TDK Corporation, Sumitomo Wiring Systems Ltd., Yazaki Corp., Yokowo Co., Ltd., and Panasonic Corp., according to the Trade Department.
When asked about the significance of the Presidential Visit to Japan, Pascual stated that the meeting highlights the Philippines’ “commitment to economic partnership” with Japan.
According to the DTI, one of the top contributors to the country’s economic growth is the manufacture of semiconductors, electronics, and wiring harnesses.
According to DTI, the Philippines will be the world’s fourth largest exporter of wiring harness in 2021, trailing only Mexico, China, and Romania.