Related Keywords: declining economic growth, EU duty free entry, eyeing to set up factories in PEZA, facing difficult to continue business, GSP Plus status, Japanese Chamber of Commerce and Industry of the Philippines, Japanese companies, labor strikes, set up bases in China, to relocate in Philippines, wage increase
Many Japanese companies that have set up their bases in China are facing difficult to continue doing business due to declining economic growth, labor strikes and wage increase. They want to relocate their bases in the Philippines.
This coincided with Philippine, President Benigno Aquino III’s state visit to Japan, which concluded Friday, June 5. The Philippine president, during his 4-day visit, repeatedly invited Japanese investors to put their money in the country, citing improved business climate.
