MANILA – Philippine Economic Zone Authority (PEZA) Director General Tereso Panga has highlighted the contribution of the die and mold industry in the economy and employment.
In his keynote speech at the 10th Philippine Die and Mold Machineries and Equipment Exhibition (PDMEX) at the World Trade Center, Pasay City Wednesday, Panga said there are 285 registered projects in PEZA that are engaged in the die and mold activity.
These projects have generated a total of PHP23.49 billion in investments as of June 2023.
“These projects contribute to PEZA’s consistent positive performance with our investments this year already totaling PHP97.163 billion, three times larger as compared to the same period last year,” he added.
Panga said these investments also created 35,487 jobs inside economic zones.
He said that through government and private sector collaboration, the Mold and Die Technology Support Center (MTSC) was established at Cavite Economic Zone.
MTSC was funded by the Korean government with USD6.3 million in grants. It seeks to train thousands of Filipino workers on CNC machining, precision tooling, mold designing and production of various dies and molds.
“Through our program, we can help grow the metals, plastics and engineering sectors that serve the requirements of downstream manufacturing companies as well as the local and export core-manufacturing industry,” Panga said.
Panga further said the die and mold industry is a backbone for small and medium enterprises, and a critical pillar in industrial development.
“It is said that the design and manufacture of dies and molds represent a significant link in the entire production chain because nearly all mass-produced discrete parts are formed using processes that employ dies and molds,” he added.
Meanwhile, PDMEX 2023 is being held until Aug. 26, showcasing cutting-edge technologies, innovations and advancements of 250 exhibitors from China, Singapore, Thailand, Hong Kong and South Korea.
“This exhibition is a platform for knowledge exchange and collaboration among industry professionals, experts, and enthusiasts. It is a gateway to explore groundbreaking solutions, establish partnerships, and stay updated with the industry’s progress,” Philippine Die and Mold Association, Inc. president George Ong said. (PNA)