Japan to provide 1 Trillion Yen. Investments and ODA over five years.

Japan offers help.

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The cooperation between Japan and the Philippines is not new. There is quite a history of Japan aiding in the development and poverty alleviation projects in the Philippines.

Consequently, it did not come as a surprise when the visiting Japanese Premier announced an aid of one trillion Yen. This outlay will materialize in the next five years said Prime Minister Shinjo Abe yesterday at Malacanang.

The amount of P 424 billion (1 trillion Yen) will be in the form of development assistance aid and investments. President Duterte and the Japanese Prime Minister signed a joint statement in Malacanang after the meeting.

Furthermore,Abe declared the setting up of a Joint committee to oversee the implementation of this agreement.

Japan will create more business opportunities to ensure the development in the Philippines and bring more investments.
The Official Development assistance will be instrumental in fulfilling this partnership’s goals.

In so doing, the Japanese know-how and technological advancements will result in creation of infrastructure.

While the focus is on Metro Manila, other parts of the Philippines will also benefit under this package.

The public and private sectors will do their bit towards nation building here, he said.

In a press briefing at the Malacanang later, Japanese Press Secretary Yasuhisa Kawamura explained the details.

He assured all present that Japan was committed to help the Philippines in its economic development.

In addition, Japan, on its part will spare no resources, he stated.

However the Philippines must promise to provide an environment that is conducive to a safe, friendly working environment, he said.

Therefore, Shunjo Abe said, the continuation of this vital partnership will depend on the smooth conduct of business.

The active cooperation of the public and private sectors of the Philippines will be very important.

In pursuance of this policy, trade and business leaders in Japan are exploring more areas of cooperation.
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Umrao Singh
umraoz.wordpress.com

Written for: Lars-Magnus Carlsson
www.thephilippinepride.com
Friday, 13 January 2017

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