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DTI eyes luring bike makers to locate in PH

By Kris Crismundo

June 22, 2020, 6:51 pm

<p><em>PNA file photo</em></p>

PNA file photo

MANILA – A senior trade official said the department targets to invite bicycle manufacturers to invest in the Philippines as demand for the two-wheel vehicle is increasing amid the pandemic.
 
Department of Trade and Industry (DTI) Undersecretary Ceferino Rodolfo told trade reporters that it is an “opportune time” for bicycle manufacturers to locate in the Philippines as demand continues to rise.
 
“Our bicycle manufacturers here in the Philippines are in the informal sector,” said Rodolfo, who is also the managing director of the Board of Investments.
 
He said there are large factories for bicycle and bicycle parts in Cavite and Laguna like Shimano, but these are mostly for the export market.
 
“If demand in the domestic market will continue to rise, they can do market repositioning more towards the domestic,” he added.
 
Rodolfo said the BOI is pursuing talks with a big Taiwanese bicycle manufacturer to locate their factory in the Philippines.
 
He said the Philippines is a good manufacturing hub for bicycles as the country is under preferential tariff systems of the European Union and the United States.
 
Investments of bicycle makers here will also lead to employment, creating job opportunities for many Filipinos that were displaced during the pandemic. (PNA)
 
 

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