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The Philippine Economic Zone Authority and Philippine Trade and Investment Center partner with Okayama International Business Association to invite 30,000 Japanese SMEs to invest in the Philippines
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PEZA sees the partnership as vital in boosting the Philippines’ manufacturing supply chain and industrial ecosystem
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The ecozone operator held business-to-business and government-to-government meetings in Japan to promote the Philippines as the best choice for investors, especially in Southeast Asia
The Philippine Economic Zone Authority (PEZA) recently embarked on a three-day mission to invite Japan’s small and medium enterprises to invest in the Philippines.
PEZA and the Philippine Trade and Investment Center (PTIC) in Osaka partnered with Okayama International Business Association (OIBA) to woo 30,000 small and medium Japanese enterprises to sink funds in the Philippines.
The partnership is “vital in boosting the Philippines’ manufacturing supply chain and industrial ecosystem,” PEZA OIC director general Tereso O. Panga said in a statement after conducting the investment mission.
With Panga in the three-day mission in Osaka and Okayama was PTIC Osaka Commercial Counsellor Michael Ignacio.
The mission is also in preparation for President Ferdinand Marcos Jr.’s state visit to Japan in February 2023, which will coincide with the celebration of Japan+ASEAN 50th year of partnership.
Already, an Okayama business delegation is scheduled to visit the Philippines by the first quarter next year to explore investment opportunities in the ecozones.
Tapping Japan’s SMEs, which comprise 99.7% of all businesses in that country, to set up operations in the Philippines would help “complete the supply chain, empower our own SMEs, and boost the country’s industrial ecosystem,” Panga said.
During the mission, business-to-business and government-to-government meetings were conducted, including with the Osaka Chamber of Commerce and Industry, Osaka Business Development Agency, Osaka Prefectural Government, and the OIBA to explore areas for investment promotion collaborations and to strengthen Philippine-Japan partnership in various areas, such as the World Expo 2025 to be held in Kansai, Osaka.
PEZA discussed with Junca Holdings their upcoming bio-technology activity to be registered with PEZA. Junca’s partner companies, such as Synergy and Global Network Japan, are also exploring the possibility of putting up a tourism economic zone and an anaerobic/waste-to-energy water treatment plant in the Philippines through PEZA.
Shibutani Shoten Corp., a manufacturer of car seat, arm rest, and headrest covers for big car companies such as Mitsubishi and Mazda, met with PEZA to discuss plans to set up a company in the Philippines to support its employment and training program for Filipino workers and expand its brand internationally.
Marukame Trading Co. Ltd. seeks to hire 100 additional employees for its Philippine company, Marukame Fashion Cebu Inc., a 100% export-manufacturer of high-end and global apparel brands located in Mactan Economic Zone.
VALTES Co. Ltd. is looking at expanding operations of VALTES Advanced Technology Inc., a PEZA-registered IT company, into software design and development to cater to plans of employing an additional 100 software engineers.
Global industry leader in the manufacture of marine equipment such as sea vessel propellers, rudders and shafts Nakashima Propeller Co. Ltd is eyeing to bring in new technology and incorporating innovation to its plants worldwide, particularly in its Cavite Economic Zone plant.
Inabata Philippines Inc., a leading ecozone logistics provider, looks to expand its warehouse footprint in the next two years to cater to its client ecozone locators nationwide.
Showa Spring Co. Ltd., with a PEZA-registered export manufacturing enterprise in the Mactan Economic Zone, is scouting for a separate location in the CALABARZON area to expand its Philippine operations.
“We echo the call of the government and our investors that the Philippines is the smart investment choice in the region. This is the best time to invest in the Philippines,” Panga said.
To date, there are 891 PEZA-registered Japanese enterprises registered in PEZA and located in various PEZA ecozones nationwide. These firms have contributed P746.09 billion of investments from 1995 to November 2022. Japanese remain the top investors, with 27.52% of its total investments.
For January to November 2022, PEZA generated P57.05 billion of investments from 181 projects that it expects will bring about 33,308 direct jobs.
Investments from Japan made up P17.76 billion or 31.12% of the total investments for the period with the top big-ticket projects coming from Shin-etsu Magnetics Philippines Inc., Cebu Mitsumi Inc., TDK Philippines Corp., Tamiya (Philippines) Inc., and PIMES Corp. (Philippine International Manufacturing and Engineering Services Corp).
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