JAPAN's Mitsubishi Corp. is looking at investing and expanding its operations in the Philippines, particularly in infrastructure development and energy transformation, the Trade department said.

Trade Secretary Alfredo Pascual met with Mitsubishi officials on Wednesday in Tokyo, where they discussed opportunities to boost investments in various sectors in the Philippines.

"As we navigate the challenges of climate change, the Philippines is positioning itself as a leader in renewable energy and green metals. Our rich reserves of nickel, copper, and cobalt present immense opportunities for investment in these sectors," Pascual said.

He also pitched for stronger partnerships in agricultural technologies and modernized logistics infrastructure, including cold chain investments.

Mitsubishi has expressed interest in contributing to the country's infrastructure development through new projects that leverage its expertise in energy transformation and digital transformation within new industries, said Dita Angara-Mathay, commercial counselor of the DTI field office in Tokyo.

"This aligns with Mitsubishi Group's Roadmap to a Carbon Neutral Society, which allocates 2 trillion yen for energy transformation-related global investments," the DTI said.

Mitsubishi also reaffirmed its commitment to the Metro Manila Subway Project, which is exceeding its planned progress. As of May 2024, the firm said that the system's preliminary design is nearing completion, with the pre-final design currently underway. Regular interface meetings with civil contractors, rolling stock contractors, and other stakeholders are also ongoing, it said.

Mitsubishi is also currently involved in other existing infrastructure projects in the Philippines, which include the North-South Commuter Railway.

"The Philippine government is eager to work closely with Mitsubishi Corp. to explore potential business ventures and collaborations across various sectors," Pascual said.

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