Business leaders positive about Duterte visit to Japan
President Rodrigo Duterte arrives at Haneda international airport in Tokyo, Tuesday, Oct. 25, 2016. Duterte is on a three-day official visit to Japan, his first as Philippine leader. AP
Businessmen are hopeful that Pres. Rodrigo Duterte’s visit to Japan, a key ally of the United States, will only bring good tidings to both countries and that the president will avoid “bombastic” rhetoric similar to what resonated from his visit to China last week.
“First of all, I think some Japanese people are really worried about what Pres. Duterte mentioned in China because Japan is actually allies with the United States and we do believe that Japanese people like Philippines. Half of the Japanese are worried, half are waiting for what he is going to say,” said Koichi Katakawa, president of newly launched online stock brokerage house BDO Nomura Securities Inc.
Katakawa said Japanese media were also largely excited about Pres. Duterte’s visit, which he said was a good thing.
“Japanese people are really looking forward to the dialogue that Pres Duterte is going to do in Japan,” he said.
“I don’t think he will announce any separation from Japan,” said BDO Capital & Investment Corp. president Eduardo Francisco, “We’re hopeful that there will be nothing bombastic.”
During his state visit to China last week, Pres. Duterte escalated his anti-US rhetoric, culminating in his announcement of “separation” from the United States, both in military and economic aspects.
He toned down his rhetoric as soon as he landed on Philippine soil, saying it is not to the best interest of the Philippines to sever ties with the United States and that he only wants to pursue a more independent foreign policy.
The Philippine team is not expected to bring home as much as the $24 billion in investment and concessional financing deals brought home from China.
“In fairness to Japan, they’ve always been very aggressive on the Philippines. They’ve been continuing to support the PPP (Public Private Partnership) Center through grants and studies,” Francisco said.
He also cited the numerous railway and traffic management projects funded by Jica, Japan’s official development assistance (ODA) arm.
Francisco said he had seen Japan working “quietly behind the scenes” for the last six to seven years that he had been focused on the infrastructure industry.
“I won’t be surprised that they will have a big role to play if during the studies they are involved already,” he said.
Neighboring countries like Japan have been very supportive of the country’s growth, Francisco said.
As such, he said he did not see any big shift in such relations with Japan.
Japan has been the country’s biggest ODA partner since the 1970s, BDO Securities research head Dante Tinga Jr. said.
