The Philippines and Japan Agree to New Deals to Improve Our Local Infrastructure and Agriculture
On Thursday, February 9, President Ferdinand "Bongbong" Marcos Jr. and representatives from Japan inked 35 Letters of Intent/Agreements during the president's official state visit. This covers deals for infrastructure and agriculture, among others, as the two countries work to strengthen bilateral relations
Marcos met with Japanese Prime Minister Fumio Kishida during the trip. According to Kishida, Japan hopes to provide the Philippines with much needed assistance for its transport infrastructure. Several agreements were also made to address the country's agriculture productivity and food security concerns.
These includes deals like the Exchange of Notes on Japanese Official Development Project: North-South Commuter Railway Extension (NSCR) Project (II); Exchange of Notes on Japanese Official Development Project: NSCR – Malolos to Tutuban Project (II); Loan Agreement for the NSCR Extension Project (II); and Loan Agreement for the NSCR – Malolos to Tutuban Project (II). A memorandum was signed between the Department of Agriculture and Ministry of Agriculture, Forestry, and Fisheries, as well.
Apart from these ventures, Japan had also agreed to offer humanitarian assistance and disaster relief cooperation and an order for information and communications technology.
ALSO READ:
President Bongbong Marcos Will Be 'Soft Launching' His Maharlika Wealth Fund Pitch in Switzerland
Who Is Cheloy Velicaria-Garafil, Marcos' New Presidential Communications Secretary?
Among the other focal points of the agreements were the country's manufacturing, infrastructure development, transportation, healthcare, renewable energy, and business expansion. Japan also pledged to aid the Philippines' economy through new investments, including in Filipino seafarers. Some Japanese shipping companies assured the president that it would continue to hire Filipino professionals. About 75 percent of crew members on Japanese vessels are Filipino.
First Lady Liza Araneta-Marcos, Senior Deputy Speaker Gloria Macapagal Arroyo, Senate President Juan Miguel Zubiri, House Speaker Ferdinand Martin Romualdez, and key member's of the administration's economic team joined the president's trip. Also with Marcos are MPIC chairperson Manny Pangilinan, San Miguel Corporation President and Vice Chairman Ramon Ang, and Ayala Corporation Chairman Jaime Augusto Zobel de Ayala.
Marcos will be back in Manila by Sunday, February 12.
.jpg)