International Business
<i> Times Staff and Wire Reports</i>
Japanese Group to Build Philippine Industrial Park: The Japan International Development Organization said it agreed to develop the 45,000-acre industrial park in the Subic Freeport area of the Philippines. The organization, a government-sponsored enterprise, is 60% owned by 120 companies, including Mitsubishi Corp., Toyota Motor Corp. and Nissan Motor Co. The remaining 40% is controlled by the Overseas Economic Cooperation Fund, a Japanese government agency. The development organization did not disclose how much it would invest to build the park.
