MANILA – The five-day investment mission of Philippine Economic Zone Authority (PEZA) with the Philippine Trade and Investment Center-Taipei (PTIC) in Taiwan has secured PHP20.6 billion worth of investment leads for the country.
PEZA said in a statement Friday these prospective projects came from five companies that attended the Philippine Investment Forum in Taiwan from Oct. 23 to 27.
Two of the biggest of the investment leads eye manufacturing of sustainable packaging. A consortium of Taiwanese and Japanese firms proposed to pour in PHP11.36 billion in capital for a compostable packaging factory, while another manufacturing and renewable energy firm wants to build a PHP7.95-billion facility for vertical integration of low carbon paper and eco-packaging and also develop a waste-to-energy plant.
An existing company here also aims to expand its electronic manufacturing services (EMS) operation by investing another PHP681.85 million; a maker of non-asbestos friction materials used in bicycle disc brake system also eyes investing PHP484 million; a long-time PEZA locator targets to put in more investments amounting to PHP171 million for expanding its precision stamping business; and an innovative air care products’ manufacturer likewise expressed its intention to locate in one of PEZA zones.
“As one of the top ecozone investors, Taiwanese locators contribute a total of PHP 33.165 billion in investments, created 38,481 new employment to Filipinos, and supplied USD529.716 million amount of exports from the Philippines,” PEZA said.
PEZA Director General Tereso Panga also met with Taiwan Smart Electric Bicycle Association (TSEBA), represented by its Secretary General Thompson Su.
“PEZA Director General Panga informed TSEBA that the electric bicycle supply chain in the Philippines is vibrant, featuring the likes of locators Shin-Etsu Magnestics Philippines, Inc. (SEMPI) and Shimano (Philippines), Inc. (SPI), and encouraged the companies during the briefing to explore major investment opportunities through a predictable investment environment and other advantages of locating inside PEZA economic zones in the Philippines,” PEZA added.
This is in line with the government’s initiative to make the Philippines part of the global value chain in electric vehicles. (PNA)
