Negotiations are already underway between the Philippine government and a Canadian biotech firm to establish…
Eight manufacturing and two logistics Taiwanese businesses are interested in setting up hubs in the Philippines
Taiwanese companies were welcomed this week by the Philippine Economic Zone Authority (PEZA) for a business mission in the nation.
Eight Taiwanese manufacturing companies and two logistics companies are considering registering their projects with PEZA or the Board of Investments, according to a statement released by PEZA on Friday (BOI).
These Taiwanese delegates intend to file their export- and domestic-market-oriented projects with the PEZA and BOI. According to PEZA officer-in-charge Tereso Panga, potential Taiwanese investors are interested in manufacturing consumer electronics, automobile brake pads, screws and other steel products, centrifugal fans, hardware materials, paper products, and packaging goods.
By visiting LIMA Technology Center, First Philippine Industrial Park (FPIP), Light Industry & Science Park (LISP) IV in Batangas, Filinvest Technology Park in Laguna, Hermosa Industrial Park in Bataan, and TECO Industrial Park in Pampanga, among other PEZA ecozones, the delegation is on an inbound mission here until March 10.
According to Panga, the Taiwanese companies’ inbound mission to this country is a follow-up to the Joint Economic Conference (JEC) between the Philippines and Taiwan in October 2022.
Last year, PEZA garnered seven investment pledges from Taiwanese companies totaling USD65 million on the fringes of the JEC in Taipei.
While Taiwan’s economy is powered by a competitive manufacturing sector in the domains of electronics, machinery, petrochemicals, energy, and information and communications technology (ICT) products, Panga continued, “PEZA is striving to attract additional investments in high-technology businesses.
With combined investments of PHP33.17 billion and 109 Taiwanese enterprises registered as of now, PEZA has generated 38,749 direct jobs.
Sunon Properties Philippines Corp., Tong Hsing Electronics Phils. Inc., Kinpo Electronics (Philippines), Inc., Acbel Polytech Philippines, Inc., Bojie Development Corporation, Phil Bright Corporation, Shang Mei Philippines Corporation, Taihanland (Philippines) Inc., Bioteque Medical Phils. Inc. and Everbrilliant Manufacturing Company Inc. are a few of the top Taiwanese investors in PEZA.***
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