Japanese investors monitoring progress of GPH-MILF peace process
In an interview Tuesday afternoon, Philippine Constructors Association executive director Manolito Madrasto said that Japanese firms are eyeing the Philippines as an alternative location for several industries, saying their investments in neighboring countries are in danger of rising costs in terms of labor and materials.
However, Madrasto said the investors would rather focus on Mindanao instead of other locations such as Manila because of the news that they are getting regarding national politics.
“The investors are waiting for the results of the peace negotiations,” Madrasto said.[]
Madrasto added that the Japanese investors are saying that there was a “positive message” in the peace negotiations.
He added that the Japanese investors are thinking of pulling away from their manufacturing investments in China due to rising labor costs.[]
The firms Madrasto said were looking at Mindanao for their next project were eyeing the area for its potential in different power projects, such as ethanol, coal, biomass, and diesel.
Madrasto cited the Philippine potential as a business destination for investors, especially during the 2015 Asean Economic Integration.
However, he warned that manpower skills should catch up with its Asean neighbors so that there would be a supply of highly skilled workers within the country.
If this was the case, there would be no need for project contractors to hire skilled workers from abroad.
He said that the Philippines has positioned the country for its strengths in tourism and manpower during the 23rd World Economic Forum on East Asia last May.
