Philippine President Marcos reports $13-B in deals to provide 24K jobs from ‘fruitful’ Japan trip

Philippine President Marcos reports $13-B in deals to provide 24K jobs from ‘fruitful’ Japan trip

2023 February 12

President Ferdinand R. Marcos Jr. arrived back home on Sunday evening after a “fruitful” working trip to Japan, sealing $13 billion worth of agreements set to yield thousands of jobs for Filipinos.

“Coming back, we carry with us over $13 billion or Php708.2B in contribution and pledges to benefit our people or create approximately 24,000 jobs and further solidify the foundations of our economic environment,” the President said in his departure speech.

Flight PR 001 carrying the President and the Philippine delegation touched down at the Villamor Airbase at 7:00 p.m. on Sunday.

President Marcos said Japan pledged to provide development loans for the North South Commuter Railway for Malolos-Tutuban and the North South Commuter Railway Project Extension totaling JPY 377 billion, which is about USD 3 billion.

President Marcos said the completion of these projects, along with other ongoing large-scale Official Development Assistance (ODA) projects such as the Metro Manila Subway Project and many more across the country, “is expected to translate to better lives for Filipinos through improved facilitation of the movement of people, goods and services.”

The President also cited his historic bilateral meeting with Japanese Prime Minister Fumio Kishida, which he described as something “bound by shared values and common aspirations for our peoples.”

“We committed to further strengthen the strategic partnership between the Philippines and Japan and mapped out a transformative, future-oriented partnership that is responsive to new developments,” the President said.

The Philippines and Japan also cemented their defense and security relations, agriculture and information and communications technology (ICT) cooperation, with the signing of bilateral agreements that “provide the framework for enhanced mutually-beneficial collaborations in many areas.”

The President also had the honor of having an Imperial Audience with Their Majesties The Emperor Naruhito and Empress Masako.

In his audience with Their Majesties, the President said he was able to reaffirm his commitment to enhancing the close friendship and cultural ties between Filipinos and the Japanese people.

During his visit to Japan, the chief executive also met with various business leaders and investors.