PH investment sought out by 8 Taiwanese companies
Eight Taiwanese businesses desire to invest there, especially in the manufacturing industry.
The Taiwanese delegation is looking for investment opportunities in the Philippines, particularly in expanding their presence in the manufacture of electronics and semiconductors, as well as industrial and machinery parts and components, according to a statement released by the Board of Investments (BOI) on Thursday.
These businesses manufacture circuit boards, extremely precise memory card connector terminals, and metal stamping. According to the statement, their tour aimed to “examine incentives available for the semiconductor industry in the Philippines, evaluate local market demand, and forge links with already established IC packaging and testing companies.
The BOI reported that on March 6, a corporate delegation from Taiwan also visited Manila.
It was stated that the Philippines’ standing as an ASEAN investment hub is further cemented by Taiwanese companies’ interest in the country.
According to the investment promotion agency, “This recent visit of the Taiwanese business delegation not only strengthens the economic ties between the two countries but also paves the way for further collaboration and growth.”
According to the BOI, Taiwan is expected to be the tenth-largest source of investment commitments for the nation in 2022, with pledges totaling around PHP1 billion.
The amount of Taiwan’s FDICs in the same year was USD21.18 million.
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