Japanese firms involved in real estate, casino, software development, consultancy and recruitment sectors are eyeing prospective investments in the Philippines, on the back of the country’s strengthening economy.
A delegation from the Pan-Pacific Business Partnership Association is in the country to look at these opportunities and to form joint ventures with local companies, according to Hajime Ishii, leader of the delegation.
In a reception held Monday night, Ishii described the country’s economic growth as tremendous and remarkable, compared to many other Asian countries. This is why the recently organized Pan-Pacific Business Partnership chose the Philippines as its priority country.
“Our aim is to collaborate the business circles of both countries for achieving mutual benefits. The willingness and ability of Philippine industries and high technical ability of Japanese companies will definitely contribute to the enhancement of growth of economy and progress in both countries,” Ishii explained.
“The relationship of Japan and the Philippines is so intimate. The strategic partnership covers not only politics but also of economy and national defense. Our organization is hoping to contribute to serve [as an] efficient mechanism [to improve] the relationship of the two countries on the business side,” he further said.
According to Ishii, the companies represented in the delegation were SEC Elevator Co. Ltd. (for the production and maintenance of elevators); Taisei Housy Co. Ltd. (real estate management); Japan Sakudory Co. Ltd. (pest control rental business); Re-Tem Corp. (resource recycling and circulation consulting; and Yume Corp. (casino business).
Also in the country were representatives from System’s Co. Ltd. (software development); S.A. Consulting Inc. (management consulting); Rocs Inc. (fitness clubs and spas); Yonezawa Misao Accounting Firm (accounting); and Lighthouse Global Inc. (recruiting service solutions).
Ishii said that one of the more concrete projects to come out from the delegation visit was the plan to put up a Japanese retirement village in Tagaytay and Makati City.
According to Ishii, the Philippines can tap a huge retiree market in Japan, estimated at some 20 million.
Although the proposed projects are still in the negotiation stage, the initial plan is to have some 500 to 700 houses within a proposed retirement village in Tagaytay, and roughly 500 units for high rise developments in Makati.
With a pension of about 300,000 yen, a retiree can spend half of the amount in the Philippines, Ishii said.
Meanwhile, SEC Elevator is set to start supplying elevators to a real estate developer and to planned construction projects undertaken by Iglesia Ni Cristo.