NextGen Day

MANILA – Medtecs International Corp. Ltd., a face mask manufacturer, plans to build an Industrial Town in the Philippines to produce electric cars, personal protective equipment (PPE), and integrated textile production.

The Board of Investments (BOI) stated in a statement released Wednesday that Medtecs chairman Clement Yang and senior executives met with Trade Undersecretary and BOI managing director Ceferino Rodolfo and other officials last week to discuss the company’s expansion ambitions in the Philippines.

In seven years, Yang estimates that the Industrial Town would bring in USD1.9 billion in foreign direct investment and 125,000 employees.

Medtecs is considering increasing its PPE production by producing nitrile gloves, which is presently done in Cambodia, according to him.

Medtecs were able to create melt-blown non-woven fabric, the filter material used in medical-grade face masks, locally during the epidemic.

The company invested an additional USD600,000 in its manufacturing unit in Bataan’s Freeport Area to increase the monthly production of face masks to 25 million pieces.

“Medtecs is particularly interested in filling in the gaps in the country’s textile supply chain, such as yarn production, spinning, and weaving, as well as the production of recycled polyester textile, which is a mix of polyester and recycled materials from post-consumer bottles,” according to the BOI.

Medtecs’ expansion plan here, according to Rodolfo, is eligible for incentives under the CREATE (Corporate Recovery and Tax Incentives for Enterprises) statute.

According to him, projects with a minimum investment capital of PHP50 billion or that create at least 10,000 employment are eligible for up to 40-year incentives.

The trade representative also pushed the company to investigate green metal processing for e-vehicle batteries, such as nickel.

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