Robustly attracting more foreign investors and achieving investment growth target this 2023, the Philippine Economic Zone Authority (PEZA) welcomed Taiwanese investors last March 06.
In coordination with the Philippine Trade and Investment Center (PTIC) in Taipei, Taiwan, under Director for Commercial Affairs Anthony B. Rivera and Investment Officer Terry Lin, PEZA recently hosted an investment briefing at PEZA Head Office to eight (8) manufacturing and two (2) logistic Taiwanese companies as part of their six-day inbound mission from Taiwan to the Philippines.
During the investment briefing, PEZA OIC Director General Tereso O. Panga said, “The Taiwanese delegations being here in the Philippines gives us signal already that they are considering our country to be their next investment destination in the region.”
According to Panga, “These delegations from Taiwan are eyeing to register their export and domestic market-oriented projects under the PEZA and BOI. Prospective Taiwanese investors are into manufacturing of consumer electronics, car brake pads, screws and other steel products, centrifugal fans, hardware materials, paper and packaging products.”
The inbound mission is a follow-through activity to the Philippine-Taiwan 28th Joint Economic Conference and Philippine Investment Forum held in Taipei last October 2022.
More Taiwanese investors in ecozones
OIC Chief Panga reported, “Currently, there are 109 Taiwanese locator companies registered with PEZA, generating a total of Php 33.165 billion investments, US$ 765.249 export revenues and 38,749 direct jobs.” “PEZA’s top Taiwanese ecozone investors are 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 Phil. Inc., and Everbrilliant Manufacturing Company Inc.,” Panga added.
In his report, these enterprises are into real estate activities, manufacturing of various products including radio, television and communication equipment and epparatus and medical, precision and optical Instruments, watches and clocks among others, and various services.
The OIC Director General shared that, “PEZA is aiming to attract more investments in hightechnology industries as Taiwan’s economy is driven by a competitive manufacturing sector in the fields of electronics, machinery, petrochemicals, energy, and information and communications technology (ICT) products.”
Seconded by PTIC-Taiwan Director for Commercial Affairs Anthony B. Rivera, he said, “We hope to invite more investors from Taiwan as part of our drive to encourage science, technology, and innovation driven manufacturing into the country.”
On the other hand, during the four-day outbound investment mission in Taiwan last October 2022 which was in coordination with PTIC-Taiwan, BOI, Manila Economic and Cultural Office (MECO), Taipei Economic and Cultural Office (TECO), and the Taiwanese Chamber, PEZA recorded seven (7) investment pledges amounting to USD 65 million.
As part of the Taiwanese inbound mission to the Philippines, PEZA hosted an economic zone site tour to Taiwanese delegations last March 7 and on March 10. Ecozones visited were LIMA Technology Center, First Philippine Industrial Park (FPIP), and Light Industry & Science Park (LISP) IV in Batangas and Filinvest Technology Park located in Laguna. For March 10, the delegations will visit Hermosa Industrial Park, Bataan and TECO Industrial Park, Pampanga.