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The Philippine Economic Zone Authority aims to attract more investments in high-tech industries from Taiwan
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Taiwanese companies eye registration with PEZA and the Board of Investments, according to PEZA officer-in-charge and deputy director general Tereso Panga
The Philippine Economic Zone Authority (PEZA) is wooing more high-tech Taiwanese investments, according to officer-in-charge and deputy director general Tereso Panga.
Ten Taiwanese companies—eight in manufacturing and two in logistics—were on a recent six-day inbound mission from Taiwan to the Philippines.
“PEZA is aiming to attract more investments in high-technology 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,” Panga said during an investment briefing with the Taiwanese companies.
The delegation is “eyeing to register their export and domestic market-oriented projects under the PEZA and BOI [Board of Investments],” Panga said in a statement.
“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,” he added.
PEZA hosted an ecozone site tour in LIMA Technology Center, First Philippine Industrial Park, and Light Industry & Science Park IV in Batangas; and Filinvest Technology Park located in Laguna, Hermosa Industrial Park, Bataan; and TECO Industrial Park, Pampanga.
Currently, there are 109 Taiwanese locator companies registered with PEZA, generating a total of P33.165 billion investments, US$765,249 export revenues and 38,749 direct jobs, Panga said.
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 Corp., Phil Bright Corp., Shang Mei Philippines Corp., Taihanland (Philippines) Inc., Bioteque Medical Phil. Inc., and Everbrilliant Manufacturing Company Inc.
These enterprises are into real estate activities, manufacturing of various products including radio, television and communication equipment and apparatus and medical, precision and optical instruments, watches and clocks among others, and various services.
In October 2022, PEZA went on a four-day investment mission to Taiwan in coordination with Philippine Trade and Investment Center-Taiwan, BOI, Manila Economic and Cultural Office, Taipei Economic and Cultural Office, and the Taiwanese Chamber, where PEZA recorded seven investment pledges amounting to $65 million.
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