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President Benigno S. Aquino addresses senior executives of Nippon Keidanren led by Chairman Hiromasa Yonekura last December 13 in Tokyo, Japan

(Photo courtesy of RTVM)

President Benigno Aquino met with Keidanren (Japan Business Federation), the largest and most prestigious business organization in Japan, on the side lines of the 40th ASEAN-Japan Commemorative Summit. The meeting was attended by Chairpersons of Japan’s largest conglomerates including Sumitomo, Marubeni, Mitsubishi, Itochu, JX Holdings, East Japan Railway Company, and Toshiba. The Philippines was the only ASEAN country invited by Keidanren for a bilateral meeting at the fringes of the commemorative summit.

Keidanren officials advised the President and Secretary Domingo, the significant interest among Japanese big business to participate in manufacturing and infrastructure development projects in the country. Additionally, the President had separate meetings on December 14 with Sumitomo Metal Mining Corporation, NIDEC Corporation, Mitsubishi Motors Corporation, and Sumitomo Mitsui Banking Corporation.

The meetings focused on Japanese companies plans to develop projects in manufacturing, R&D as well as major infrastructure and energy projects. These projects are expected to yield collective infusions of several billion US dollars into the Philippine economy. One company alone indicated that its project will amount to a minimum of US$300M.