President Ferdinand Marcos Jr. on Friday witnessed the signing of Letters of Intent (LOI) on investments and agreements between the Philippines and leading Japanese firms.

In a speech in Tokyo, the President thanked Japanese firms and partners for "considering the Philippines as a place and as a partner to grow your businesses.”

"The government of the Philippines has been working to deepen the confidence in the Philippines of foreign investors and companies,” the President said.

According to the chief executive, the Philippines has been advancing "vital and game-changing reforms” to improve the country’s business environment.

"And it is our hope that companies such as yours will not only find the Philippines to be an attractive investment destination, we are designing our efforts to encourage you to stay and find our country to be a place where your businesses will thrive,” the President pointed out.

The Letters of Intent are between the Philippines and Japan as well as different business companies from both nations, covering a wide range of partnerships aimed at deepening foreign investor confidence.

These include manufacturing, infrastructure development, energy, transportation, healthcare, renewable energy and business expansion, among other sectors.

The signing follows a day after the first bilateral meeting between President Ferdinand Marcos Jr. and Japanese Prime Minister Fumio Kishida at the Prime Minister’s Office in Tokyo.

The business agreements signed include a wiring harness manufacturing expansion project with Asti Corp.; a printer manufacturing expansion project with Brother Industries, Ltd.; a hotel construction project with DoubleDragon Corp./IwataChizaki Inc.; and a factory expansion project with Japan Tobacco Inc.

Also included in the list are a new factory for autoparts with Kurabe Industrial Co, Ltd.; energy, transportation, healthcare and afforestation projects with Marubeni Corporation; and automobile manufacturing expansion project and a commitment renewal to meet production targets with Mitsubishi Motors Corp. Presidential News Desk