The Philippine Online Chronicles

President Benigno Aquino III, after arriving Friday morning from his 5-day visit to the United States, will be off to Japan on Sunday to get more investments.

Aquino will be in Japan, considered the Philippines’ top trading partner, for three days to secure investments on energy, ship building, mining and property development.

Foreign Affairs spokesperson Raul Hernandez said, “The focus of the visit is to cement the special bonds of friendship that we have with Japan.”

Besides being a trade partner, Japan is a leading Official Development Assistance (ODA) provider, tourist and foreign direct investment (FDI) source for the Philippines.

“Hopefully, this visit will also cement the strategic partnership we have with Japan by intensifying economic cooperation for mutual prosperity and political cooperation, and also to address bilateral, especially global and regional issues,” Hernandez told ABS-CBN news.

The President will also meet with Filipinos living at the Miyagi Prefecture, which was one of the badly hit areas during the twin earthquake and tsunami disasters last March.

According to Inquirer, the government is expecting $1.1 billion in private investments on top of a loan package of ¥9.2 billion.

His visit’s highlight will be a state luncheon hosted by Emperor Akihito and a bilateral meeting with Prime Minister Yoshihiko Noda.

Foreign Assistant Secretary Maria Lazaro said, “Japan is one of the Philippines’ closest friends with a consistent track record of support to the Philippines. The President’s official working visit will be an important step toward cementing our strategic relations with this close neighbor and a valued partner.”

Aquino will also be meeting with key Japanese business organizations such as the Keidanren, the Japan Business Federation, the Japan-Tokyo Chambers of Commerce and Industry, and the Japan Philippine Economic Cooperation Committee.

Lazaro said the President will also discuss the Japan-Philippines Economic Partnership Agreement and Japan’s bid to co-sponsor the Regional Maritime Security Forum that the Philippines will be hosting next year.