Taiwanese investors have expressed keen interest in a new round of investments in the Philippines, particularly in the manufacturing and logistics sector, according to the Philippine Economic Zone Authority (PEZA).
PEZA announced that it recently hosted an investment briefing to eight Taiwanese manufacturing firms and two logistics companies as part of a six-day mission from Taiwan to the Philippines.
The trade mission is a follow-through activity of the Philippine-Taiwan 28th Joint Economic Conference and Philippine Investment Forum held in Taipei, Taiwan last October 2022.
According to the PEZA, there are 109 Taiwanese locator companies registered with Peza, which has so far generated a total of P33.165 billion investments, $ 765.249 export revenues and 38,749 direct jobs.
Taiwanese companies and businesses who are now operating in the Philippines include Sunon Properties Philippines Corp.,Tong Hsing Electronics Phils. Inc., Kinpo Electronics (Philippines), Inc., Acbel Polytech Philippines, Inc., Bojie Development Corp., Phil Bright Corp., Shang Mei Philippines Corp., Taihanland (Philippines) Inc., Bioteque Medical Phil. Inc., and Everbrilliant Manufacturing Company Inc.
The majority of these firms are into real estate and the manufacturing of various products, including radio, television and communication equipment, medical apparatus, precision and optical Instruments, and watches and clocks.
Panga said PEZA aimed to attract more investments in high-technology industries, citing that Taiwan’s economy is driven by a competitive manufacturing sector in the fields of electronics, machinery, petrochemicals, energy and information and communications technology products.
With additional reports: Philippine Daily Inquirer, Alden M. Monzon
