TAIPEI — The Philippine Economic Zone Authority (PEZA) and the Philippine Trade and Investment Center-Taipei (PTIC) have concluded a five-day investment mission in Taiwan, yielding PHP 20.6 billion in potential investments for the Philippines.
According to Philippines News Agency, these investment leads emerged from the Philippine Investment Forum in Taiwan held from October 23 to 27, attracting interest from five companies. Among the prospects are two significant sustainable packaging manufacturing initiatives. A collaborative project between Taiwanese and Japanese entities is anticipated to invest PHP 11.36 billion into a compostable packaging factory. Additionally, a firm specializing in manufacturing and renewable energy is considering establishing a PHP 7.95-billion integrated facility for low carbon paper and eco-packaging production and aims to develop a waste-to-energy plant.
Further investments are expected in electronic manufacturing services (EMS), with an existing company planning to augment its operations with PHP 681.85 million. A non-asbestos friction material producer for bicycle disc brakes has shown interest in investing PHP 484 million. Additionally, a long-time PEZA locator is contemplating an investment of PHP 171 million to expand its precision stamping business. There's also an air care products manufacturer intending to set up operations in a PEZA zone.
PEZA highlighted the significant contributions of Taiwanese investors to the Philippine economy, including PHP 33.165 billion in total investments, the creation of 38,481 jobs, and exports amounting to USD 529.716 million.
PEZA Director General Tereso Panga engaged with the Taiwan Smart Electric Bicycle Association (TSEBA), represented by Secretary General Thompson Su. Panga showcased the robust electric bicycle supply chain in the Philippines, featuring companies like Shin-Etsu Magnestics Philippines, Inc. (SEMPI) and Shimano (Philippines), Inc. (SPI). He encouraged TSEBA members to consider substantial investment opportunities available within the Philippines’ economic zones, which offer a predictable investment climate.
This investment drive is part of the Philippine government's broader effort to integrate the country into the global electric vehicle value chain.