The Philippine Economic Zone Authority (PEZA) in partnership with the Philippine Trade and Investment Center (PTIC) – Taipei generated a PHP20.6 billion worth of investment leads and pledges from a five-day outbound mission to Taiwan for the 2023 Philippine Investment Forum.
The Investment Forum was an avenue for the 154 participants from prominent Taiwanese companies and distinguished associations to explore business opportunities and expansion plans in the Philippines.
The organizers invited notable guest speakers whose presentations highlighted the benefits of the supply chain and business models in the Philippines, the current investment opportunities regarding the public/commercial transportation, infrastructure, power storage/power grid, telecoms and collection data and software, and service-oriented potentials.
Speakers from the Philippines’ side include Trade Undersecretary Rafaelita Aldaba, who accentuated the overview of the Philippine innovation agenda; PEZA Director General Tereso Panga, who presented the features and supply chain opportunities of the economic zones; and Atty. Carlos Ocampo of OM Law, who provided the business regulatory requirements and the company registration procedure to guide the Taiwanese investors in doing business in the Philippines.
PEZA and PTIC-Taipei also participated in numerous business-to-business (B2B) meetings with potential investors who have been targeting the Philippines as the next investment location.
They explored new strategic areas of collaboration with the Taiwan Smart Electric Bicycle Association (TSEBA), a non-profit public welfare social organization integrating and promoting the exchange and development of Taiwanese manufacturers of smart electric bicycles and other equipment and components, for the goal of energy conservation and carbon reduction around the world.
One promising investment lead is a consortium of Japanese and Taiwanese companies that will engage in the business of compostable packaging manufacturing, with a proposed PHP11.361 billion capital investment. Led by a leading brand of compostable products and resins with offices in Asia, Europe and North America, the consortium is interested in the manufacturing of innovative finished products for applications like compostable packaging and compostable food service applications in the Philippines.
Meanwhile, a company from the manufacturing and renewable energy industries, mainly in the recycled wastepaper as its raw material and the vertical integration of low carbon papermaking and eco-packaging, signified interest to potentially invest a total of PHP7.953 billion. It is also interested in developing a waste-to-energy plant.
Another manufacturing company is interested in investing PHP681.845 million to expand the business as an Electronic Manufacturing Services (EMS) provider. The company manufactures, assembles, inspects and tests products based on customer design and quality requirements while providing engineering support to customers whenever required.
A prospective investor has also finally decided and undertaken a PHP484 million investment during a meeting with PEZA and PTIC-Taipei. The company is devoted to the development of eco-friendly products of non-asbestos friction materials which are successfully applied to bicycle disc brake system.
PEZA and PTIC-Taipei also met with one of the largest companies dedicated to precision stampings in Asia, driven to provide the highest quality one stop advanced precision metal stamping and plastic molding service worldwide, and claiming to be the first metal stamping company with the biggest metal stamping equipment in Taiwan. After hearing a long-time PEZA locator’s experience, the company plans to initially invest PHP171 million. Director General Panga emphasized the importance of providing the best aftercare services for locators, claiming “the best promoter is a satisfied customer.”
Lastly, an Asian market leading manufacturer dedicated to creating innovative air care products with sustainable sales and growth in the global market is currently in the negotiation process of leasing in a PEZA-registered economic zone.
As one of the top ecozone investors, Taiwanese locators contribute a total of PHP33.165 billion in investments, created 38,481 new employment to Filipinos, and supplied USD529.716 million worth of exports from the Philippines.
Director General Panga emphasized that with the newest reinforcement, the Southbound Policy Treaty, PEZA aims to grow more investments and deepen the Philippine friendship and economic endeavors with Taiwanese companies.
