DTI courts Marubeni for renewable energy, tech investments

The Department of Trade and Industry (DTI) is urging Marubeni Corporation to invest in “new generation” industries in the Philippines, with a focus on renewable energy, infrastructure, and technology.

During a September 12 meeting, Acting Trade Secretary Cristina A. Roque emphasized the country’s openness to foreign investments, especially in emerging sectors that align with its sustainability and technological goals.

“The Philippines is open for business. We are committed to creating an environment where businesses of all sizes can flourish, particularly those involved in ‘new generation’ industries that cater to the evolving needs of Filipinos,” Roque said.

She noted that the government’s efforts in supporting micro, small, and medium enterprises (MSMEs), alongside its push for digitalization and improved market access, underscore its commitment to sustainable and inclusive economic growth.

Marubeni Corporation, a prominent Japanese conglomerate with a history of over 110 years of operations in the Philippines, expressed interest in expanding its footprint in the country.

The company has diversified from its early abaca trading days into sectors such as energy, healthcare, transportation, and fintech.

“We are pleased to see Marubeni Corporation’s growing portfolio of investments in the Philippines. Their presence is a testament to the country’s strong economic fundamentals and the vast potential that lies ahead,” Roque added.

Marubeni’s Commitment to Philippine Growth

Marubeni’s ongoing investments in the Philippines demonstrate its commitment to supporting the country’s economic and social development.

Among these projects is Medi Linx, a clinical laboratory offering advanced health checkups and preventive genetic testing, using Japanese technology.

The company has also invested in Conceive IVF Manila Inc., a clinic providing in-vitro fertilization (IVF) services to assist Filipino couples facing fertility challenges.

In line with the government’s focus on MSME development, Marubeni has introduced “etomo,” an artificial intelligence-based fintech app that provides virtual credit lines to small businesses.

This innovative solution helps MSMEs access funding and expand, contributing to broader economic growth.

Sustainability and Battery Technology

The discussion between DTI and Marubeni also touched on the importance of balancing economic development with environmental responsibility.

Both parties acknowledged the need for renewable energy and climate resilience projects.

DTI’s Tokyo Commercial Counselor Dita Angara-Mathay highlighted the Philippines’ potential in battery technology, noting the country’s position as the second-largest global producer of nickel ore, a key material for electric vehicle batteries.

“The Philippines seeks to acquire competence in battery technology. This will position us as a major player in the global push toward electric vehicles and renewable energy,” said Angara-Mathay.

The DTI’s proactive approach to securing Japanese investments in cutting-edge sectors aims to foster a greener, more sustainable future for the country.

Marubeni’s diverse operations and potential collaborations could significantly contribute to achieving the Philippines’ renewable energy and technology goals.