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According to reports, a number of Japanese companies are set to invest around Five Million Pesos in the Philippines. This is because of better economic environment and attractive tax incentives offered by the government (which I believe is what PNoy talking about on his last SONA) and a lot of Japanese manufacturing companies are already make the country their second home.
Yasuhiro Matsumoto, Rizal Commercial Banking Corp.’s Japan Business Relationship Office head and first senior president, said that these Japanese companies, mostly engaged in electronics manufacturing were also looking for lower labor cost. I think that though we are, yes lower at labor cost than the other countries around, we still managed to produce high quality of work and performance that foreign countries really want plus very good English language skills. I think this is the ideal way of doing business, lower cost, and higher quality.
And I quote “Approximately P5 billion new investments from Japanese SMEs are coming this year”, meaning that they have a plan and a bright future is waiting for the us. Investing that amount will produce numbers of employments especially in the electronics and manufacturing sector, as what Mr. Matsumoto said above, making more Filipinos to have jobs. I guess the investment will be on Regions 3 and 4 mostly, because these places have already set electronics and manufacturing facilities. In my opinion, the investment may be felt even more if they will scatter the companies around the country, let say for example in Cebu or Bohol or Davao. So that the migration from Visayas to Metro Manila will be lessen, making them earn their bucks at the comfort of their own native town.
The RCBC Japan desk was previously set up in the bank’s Makati Headquarters to provide business consultations for Japanese clients. RCBC is one of the country’s largest private universal banks in terms of capital. It entered into a business cooperation agreement with Resona Bank Ltd. of Japan. The agreement aims to give clients of Resona Bank access to banking services in the Philippines through RCBC.
Mr. Matsumoto said that the latest data showed that RCBC’s Japan desk had so far “attracted” 700 Japanese clients. If those 700 companies will continue their investment, a lot of Filipinos can have jobs. TESDA also will be busy training people with regards to electronics and manufacturing courses, for there will be huge amount of enrollees targeting to level up their skills and knowledge.
As a citizen of the country I am praying that these may happen in the near future. A lot of our fellow Filipinos were experiencing stomach shout out, leading them to do crimes such as snatching, stealing among others. If we have a decent job and full stomachs, why we will do such crimes? I didn’t see any reasons. So please government, do your task. Think about your citizen.
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