Manila, Feb. 7 -- Mitsubishi Motors Corp.'s (MMC) has pledged to invest around PHP7 billion in the Philippines in the next five years, the Presidential Communications Office (PCO) announced Friday.

The investment commitment was discussed when MMC President and chief executive officer Takao Kato made a courtesy call on President Ferdinand R. Marcos Jr. at Malacanan Palace in Manila on Thursday, according to the PCO news release.

Marcos welcomed the MMC's plan as this will create more jobs for Filipinos.

"The jobs that it will provide, that your investment will provide, are very important to us and certainly, vehicle manufacture is one of those," Marcos told Kato, as quoted by the PCO.

During the meeting, Kato discussed the MMC's expans...