Japanese Manufacturing companies are on their way to the Philippines!

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A lot of news articles are appearing that Japanese manufacturing companies are migrating to the pearl of the orient, adding to the current number of Japanese manufacturing company in the Philippines. According to Manila Livewire, Japan has announced that more than 200 of its manufacturing companies operating in China and Japan expressed their interest to relocate their business in the Philippines, in the next five years. This is because of the declining economic growth and rising wages that are making it difficult for them to continue the business.

The news was made public and official by President Ninoy Aquino, who visits Japan from June 2 to 5 2015. The companies were hooked by the President’s repeated message and encouragement of investing “Yens” into the Philippines citing that the country has improved the business culture.

Japanese Chamber of Commerce and Industry of the Philippines Inc. Vice President Nobuo Fuji said in a text message “As of now, there are about 1,700 Japanese companies in the Philippines. But we continue to receive inquiries from about 200 manufacturers in China, saying they want to relocate here”.

This implies that a lot of manufacturers are targeting the country for business, which would be great for every-JUAN. They will surely generate employments and economic growth. What these companies will definitely bring to the Filipinos are the qualities and professionalism of Japanese.

According to reports, Citizen - a wristwatch maker, Mitsubishi Power Industries are some of the companies in China that are heading for the exits and targeting the Philippines for their next business stop. Other reasons why they want the Philippines are, because of English-speaking workforce, tax benefits given to the investors and EU (European Union) duty-free entry.

The news is so great for everyone. This will also tighten the friendship of the two countries, helping each other out. Hopefully this will come true in the future.

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