Japanese to invest $500M aquacultured products in PH

Another good news for Filipinos, this project would foresee 8,000 people expected to be employed.

Some of the Japanese companies that are already looking for appropriate location in the country are; Nisshin Food Material Co. Ltd., Yamato Global Express Co. Ltd., Yamato Web Solutions Co. Ltd., Yamato Transport Co. Ltd., Showa Denko K.K. , Showa Denko Gas Products Co., Ltd., North Japan Trade Co. Ltd.,  Yuasa Trading Co. Ltd., Dai Nippon Printing Co. Ltd., Majend MAKCS Co. Ltd., Hokkaido Ajinomoto Co., Inc., MC Food Specialties Inc., Showa Sangyo Co. Ltd., Yokoyama Foods Co. Ltd. and Tomoechan Co.

Chairman and Philippine Aquamarine Resources, Inc. President and organizer, Renato V. Diaz, said these companies have formed local subsidiaries and are currently looking for good locations in the Philippines, including the export processing zones.

Reportedly these companies are planning to produce eel, flying fish, and tuna products to be cooked and packaged in the country then will be sold in Japan.

Chief Operating Officer of Nisshin Food Material Company Ltd, Naoyuki Ishikura, said they have already spent 20 million yen or P9 million as an initial investment.

Diaz also said these Japanese investors are expected to start their operation as soon as possible or at least in three years because they already have pending orders.

The need to export would reach up to 10 billion yen initially or $100 million of which eel will account for at least 6 billion yen.  As we have known, Japanese people are a big fan of eel with estimated 30 billion to 40 billion yen market size.

Currently, the company Well Delight Corporation is already in partner with Japan of producing and exporting tuna and but may also be soon be part the eel production venture as well.

Source: ABS-CBN

Duterte To Lift 9 Million Filipinos from Poverty

The incoming President Rodrigo "Digong" Duterte said that one of his programs will focused in eliminating mainly of poverty reduction.

In a forum held at SMX Convention, Davao City, the incoming finance secretary Carlos Dominguez III told reporters that they are targeting to reduce poverty rate between 1.25 and 1.5 percentage points a year that will make a combination of around nine percentage points,.

According to the data from Philippine Statistics Authority (PSA) as of first quarter of 2015, 26.3 percent or 26 million over 100 million Filipinos were living below the poverty line.

The incoming budget secretary Benjamin Diokno said bigger budget would be focused and  allocated to rural areas in the Visayas and Mindanao.

He also added that agriculture, manufacturing and infrastructure would have more funds. Up to P1 trillion may be designated for infrastructure compared to P595 billion this year.

Dominguez said, “I was really amazed that 80 percent of projects proposed are in Metro Manila. You’re just going to further congest Manila with that".

 The incoming Department of Agriculture Emmanuel Piñol is prioritizing food security for the country. Plans to have free irrigation and supporting farmers and helping exporting their goods.

And also the incoming trade secretary Ramon Lopez said they would seek to establish connection between micro, small and medium enterprises (MSMEs) and local governments with large companies.

“The strong partnership will help build inclusive business models. We want the big businesses to include MSMEs in their value chain to provide them a sustainable market,” Lopez said in the forum.

These are some of the big plans of the incoming administration and 16 million Filipinos who have voted Duterte are hoping for the so called change for our nation.

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