MANILA, Feb. 24 -- Japan welcomed the Philippines' ongoing efforts to improve its investment and business environment.

During the Japan National Day reception in Taguig on Friday night, outgoing Japanese Ambassador Kazuhiko Koshikawa expressed optimism that this would further convince Japanese firms to do business with the country.

"As for the private sector, Japan welcomes ongoing efforts to improve the investment and business environment of the Philippines. I am convinced that it will lead to a steady and substantial increase of foreign direct investment in this country with immense potential," he said in his speech.

Koshikawa previously lamented that the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act of 2021, wit...