Pangilinan, Mitsui & Co. to invest $600M for PH infrastructure development

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Manny Pangilinan, one of the Philippines' leading business tycoons, and the Japanese conglomerate, Mitsui & Co., have recently pledged $600-million investment for infrastructure development in the Philippines. This move has been met with great excitement and anticipation as it is expected to bring significant benefits to the country's economy and its citizens.

On Wednesday, February 8, Pangilinan and executives of Mitsui hosted a dinner for President Ferdinand Marcos Jr., the first day of the chief executive’s five-day official visit in Japan, according to the Presidential Communications Office.

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Manny Pangilinan, who is also known as MVP, is the chairman of several companies including PLDT, Smart Communications, and Maynilad Water Services. He has been at the forefront of the Philippine business scene for several decades, and his companies have made a significant impact on the country's economy.

Mitsui & Co., on the other hand, is one of Japan's largest and most successful conglomerates. The company has a long history of involvement in infrastructure development projects around the world and has an extensive portfolio in various industries such as energy, resources, and chemicals.

What excites people more is when Mitsui said it will continue “exploring the possibility of further collaboration with the Philippines in business areas of mutual interest,” and this can include food and agriculture, renewable energy, and digital transformation which will then create more jobs and improve the lives of many Filipinos. 

“We can point to so many of the developments that happened in the Philippines with the assistance of the different Japanese funding agencies and government-to-government arrangements, the commercial arrangements — and these have been for the benefit of both our countries,” Marcos said according to PCO.

The exact details of the projects have not been disclosed yet, but it is expected that they will have a significant impact on the country's economy. 

This joint investment is a testament to the strong business ties between the Philippines and Japan. It also highlights the confidence that both parties have in the Philippine economy and the opportunities for growth and development in the country.

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