Japanese Ambassador to the Philippines Koshikawa Kazuhiko encouraged more Japanese firms to do business in the Philippines after the recent signing of investor friendly laws.

Speaking at the inauguration of the Metro Rail Transit Line-3 (MRT-3) Rehabilitation Project Tuesday, Koshikawa praised the signing of the Public Service Act by President Rodrigo Duterte into law last Monday.

He said the Public Service Act, the Foreign Investment Act, and the amended Retail Trade Liberalization Act will make the Philippines conducive to more Japanese firms.

"Japan is one of the top investors of the Philippines. The Embassy of Japan would like to encourage Japanese companies to further invest in the Philippines," Koshikawa said.

The Philippine Statistics Authority (PSA) showed Japan pledged P24.54 billion worth of investment during the fourth quarter of 2021.

Koshikawa welcomed the completion of the rehabilitation of the MRT 3.

"We are determined to build on these accomplishments and achievements with further accelerating the excellent relations between Japan and the Philippines," the ambassador said. DMS