Japanese investments urged in government infra projs

Trade and Industry Secretary Peter B. Favila is trying to entice big Japanese firms to invest in key infrastructure projects of the government.

Among the projects being offered for Japanese investments are the construction of the C6 Lakeshore Road, the extension of the North Luzon Expressway from Sto. Tomas, Batangas to Quezon Province and the South Luzon Expressway.

Following a recent trip to Japan, Favila said that he met with top executives of big Japanese firms such as Marubeni, Sumitomo, Fujitsu, NTT Docomo and several others to update and inform them about the government’s economic and financial policies.

Favila, along with Finance Secretary Margarito Teves and Bangko Sentral ng Pilipinas Governor Armando Tetangco Jr. briefed the Japanese government and the Japanese business community about the steps taken by the Arroyo administration to strengthen its fiscal position.

The Philippine economic team also addressed some of the Japanese business community’s concerns regarding labor, security, infrastructure and taxes.

Japanese firms, Favila said, expressed their continuing concern about labor unrest particularly the practice of forming several separate labor unions in a company.

Security-wise, Favila reported, the Japanese companies expressed satisfaction with effort of the Philippine National Police in checking criminal acti-vities such as hijacking of cargoes.

The Japanese firms also stressed the need for the Philippine government to improve existing infrastructure, giving Favila the opportunity to ask them to invest in key infrastructure projects of the government.