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By Darwin G. Amojelar, Reporter
DESPITE the US economic slow-down, Japanese
manufacturing firms in the Philippines expect profits to improve
this year on the back of higher export sales and improved production
efficiency, according to the Japan External Trade Organization (Jetro).
In its 2007 survey of Japanese factories in
Asia, Jetro said manufacturers are confident about their prospects
this year, especially those in the Philippines, Vietnam, India and
Malaysia.
The survey showed that 55.8 percent of
respondents expects higher export sales, 59.6 percent sees improved
production efficiency, 32.7 percent anticipates a reduction of
procurement costs, and 23.1 percent expects an increase in local
sales.
“In Asia as a whole, firms are increasingly
showing a positive attitude towards expanding their business scale
in the next few years through additional investments,” Jetro said,
adding that 60 percent will make additional investments. About 54
percent plans to diversify the range of items produced, while 47.5
percent would add higher value items.
Jetro said the percentage of respondents
planning to “expand their business scale” in the next few years
stood at 62.1 percent, with more than 90 percent of respondents in
India and Vietnam answering positively to this question.
The same survey also showed that Japanese
manufacturers target China as a production base in the next five to
ten years, followed by Vietnam, Thailand and India.
A total of 4,559 manufacturing companies in six
Association of Southeast Asian Nation (Asean) countries (Thailand,
Malaysia, Singapore, Indonesia, the Philippines and Vietnam),
mainland China, Hong Kong, India, the Republic of Korea and Taiwan
took part in the survey conducted from October 29 to December 3 last
year.
Included in the survey were manufacturers of
automobile and motorcycle parts, chemicals, electric machinery and
electronic equipment, metal products, and electric and electronic
parts and components.
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