Eight business letters of intent and memoranda to be inked in Duterte’s visit to Japan
TOKYO - Some eight business letters of intent and memoranda of understanding are expected to be signed here and to be witnessed by President Rodrigo Duterte, an embassy official said.
Philippine Embassy in Tokyo Consul General Marian Jocelyn R. Tirol-Ignacio, in an interview by Radio-Television Malacanang, said these letters of intent and memoranda od understanding intend to generate investments into the Philippines.
"In fact, on the occasion of the economic forum, there will be the signing of certain letters of intent by different businesses. We understand that there might be about 8 businesses that will be signing LOIs and MOUs," she said without elaborating.
The president will be addressing an economic forum on his second day here on Wednesday.
"So, we have big companies both in the manufacturing and in the investment sector, in the agricultural sector," Ignacio said.
She said the economic forum is important because it will be the first time that Duterte will face Japanese businessmen.
"For the first time, our Japanese business partners will have their first look at the President. So it’s an important visit at that regard. He has generated a lot of interest here in Japan and as you are aware, there is a lot of investment by the Japanese in the Philippines so what they want to see is they want to know that the 10-point agenda of the President can be expounded and explained possibly in business terms," she explained.
Ignacio said there could be discussion on the defense cooperation of the two countries, particularly in lease of Japanese aircraft to the Philippines.
"Other areas we are looking at, of course, is the possibility of the HARVEST (Harnessing Agribusiness Opportunities for Robust and Vibrant Entrepreneurship Supportive of Peaceful Transformation) loan coming into fruition. This is important because the focus will be on Mindanao," she said.
"There is a lot of interest, I think, between the Philippines and Japan to try to extend some kind of assistance that goes beyond Metro Manila but goes all over the region. Cebu, for example, and in Mindanao, even in Davao," she added.
The Philippines is waiting for the delivery of the remaining nine of the 10 multi-role response vessels for the Philippine Coast Guard. Celerina Monte/DMS
