Sojitz to venture into telecom tower business in Philippines

Japan’s leading trading company Sojitz Corp. expressed keen interest in investing in cell tower construction and co-location in the Philippines, an official of the Department of Trade and Industry (DTI) said Wednesday.

DTI commercial counselor Dita Angara-Mathay, on the first-day of the Philippine economic briefing in Japan, highlighted Sojitz’s potential contribution to infrastructure development and food security in the Philippines.

Sojitz’s interest in cell tower co-location aligns with the country’s need for improved telecommunications infrastructure.

“The DTI extends a warm invitation to Japanese businesses to explore the vast opportunities within the Philippine market. With a strong economic foundation, a commitment to a transparent and investor-friendly environment, and a shared vision for a sustainable future, the Philippines stands ready to solidify its position as a strategic partner for Japan,” said Trade Secretary Alfredo Pascual in a meeting with Sojitz executives.

The DTI and the Philippine economic team are in Japan for a three-day investment mission. The meeting built upon Sojitz’s presence in the Philippines in terms of investments in fertilizers, mining, food production and automotive dealerships.

Pascual highlighted the country’s recent policy reforms such as amendments to the Retail Trade Liberalization Act and the Foreign Investments Act which aim to create a more transparent and investor-friendly environment.

The DTI also noted the establishment of “green lanes” for strategic investments which facilitated the approval of 68 projects as of May 2024, attracting $35 billion across various sectors.

Sojitz is a major player in Japanese trading. Established in 2003, the company operates in over 70 countries across various sectors including manufacturing, sales, import/export and investments. Manila Standard