Japanese businesses enlist BDO to bolster trade relationships and human resources connections
In a significant move towards strengthening economic ties between Japan and the Philippines, a delegation from the Kyoto Employers Association (KEA) recently visited BDO Unibank, Inc.'s Makati headquarters. The visit marked KEA's first business mission to the Philippines and was led by Monina Elena Camigla, BDO's Senior Vice President and Deputy Department Head of Financial Institutions and International Desks.
The KEA delegation, consisting of young leaders under 50 from various industries, including automotive, real estate, IT, web services, graphic design, food manufacturing, refrigeration systems, waste paper recycling, and legal consultancy, was in the Philippines to explore potential partnerships with Philippine stakeholders. The meeting focused on expanding collaborations between Kyoto-based companies and Philippine businesses.
KEA represents more than 430 member companies, including global names like Kyocera, Nidec, Horiba, and Shimadzu. BDO Unibank, Inc., as one of the largest banks in the Philippines, could play a crucial role in facilitating financial transactions and providing banking services to these Japanese investors.
The visit highlighted the critical role of trusted financial partners like BDO in enabling long-term economic cooperation. BDO's Japan Desk, established in 2007, has grown steadily and is staffed with Japanese-speaking personnel. The bank has been supporting both Japanese corporations and individual clients in the Philippines, making it an ideal partner for the KEA delegation.
The increase in Japanese investments in the Philippines is a significant development, especially with the growth of foreign direct investments (FDI) in the country. In recent months, Japanese investments have been a major contributor to the growth of FDI in the Philippines, with significant involvement in the manufacturing sector.
Associations like KEA typically facilitate business-to-business connections and promote economic development. They might help in organizing trade missions, matchmaking events, or providing information on investment opportunities, which could encourage more Japanese businesses to invest in the Philippines.
With the ongoing trade negotiations and agreements involving the Philippines and Japan, there is potential for increased collaboration and investment. Japanese companies might be more inclined to invest in the Philippines due to its strategic location and growing manufacturing sector.
For more detailed information on the specific roles of BDO Unibank, Inc. and KEA, direct inquiries with these organizations or further research into their activities would be necessary. Nonetheless, the visit of the KEA delegation to BDO reflects Japan's growing interest in Philippine investments, signalling a promising future for bilateral economic cooperation.
[1] Source: Philippine Statistics Authority, Monthly Foreign Direct Investment Statistics, as of December 2020.
- The KEA delegation, having identified potential partnership opportunities in various Philippine industries such as automotive, real estate, IT, and finance, aims to foster collaborations with local businesses, potentially leveraging BDO Unibank's expertise in banking services and facilitating financial transactions.
- With BDO Unibank, Inc.'s Japan Desk and its extensive experience in supporting Japanese corporations and individuals in the Philippines, alongside KEA's role in promoting economic development and facilitating business-to-business connections, there is a significant potential for increased Japanese investments in the Philippines' burgeoning manufacturing sector.
