More than five business deals and memoranda of understanding (MOUs) are set to be signed on the sidelines of the participation of President Ferdinand Marcos Jr. to the 50th Commemorative ASEAN-Japan Friendship and Cooperation Summit.

Trade Secretary Alfredo Pascual told the Malacanang Press Corps in Japan that more than five memorandum of agreement and MOUs will be signed on Monday.

“It’s an expression of interest to invest in the Philippines, expressions of Japanese companies to invest in the Philippines. Some are MOUs between Philippine company and Japanese company,” Pascual said.

Pascual said the signing only showed Japan’s confidence in the business industry in the Philippines and a “serious intent and serious plans to proceed to the investment.”

“It’s support of the present policy of the administration in the sense that we are inviting foreign investors to come into the country and these Japanese investments are most welcome, and they’re among the largest investors in the Philippines already among all the nationalities that have operations in the country,” he added.

Asked what sectors are interested to invest in the Philippines, Pascual refused to give further details and just said the signing of the agreements will be on Monday.

Marcos is in Tokyo, Japan for the 50th Commemorative ASEAN-Japan Friendship and Cooperation Summit along with some cabinet officials. Presidential News Desk