With the aim of attracting more foreign investors and achieving investment growth target this year, the Philippine Economic Zone Authority (PEZA) welcomed Taiwanese investors to the country through an investment briefing on March 6 at the PEZA Head Office.
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 hosted 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 a 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 in October 2020 in Taipei, held in coordination with PTIC-Taiwan, BOI, Manila Economic and Cultural Office (MECO), Taipei Economic and Cultural Office (TECO), and the Taiwanese Chamberheld.
Panga reported, “Currently, there are 109 Taiwanese locator companies registered with PEZA, generating a total of Php 33.165 billion investments, USD 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.
The report mentions 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.
Panga added, “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.”
According to PEZA, they recorded seven (7) investment pledges amounting to USD 65 million during the four-day outbound investment mission in Taiwan in October 2022.
Further to this year’s investment briefing, PEZA also hosted an economic zone site tour to Taiwanese delegations on March 7 and 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 visited Hermosa Industrial Park, Bataan and TECO Industrial Park, Pampanga.
