PASAY CITY – In partnership with the Philippine Trade and Investment Center-Taipei (PTIC-Taipei), the Philippine Economic Zone Authority (PEZA) led a 5-day outbound mission to Taiwan for the 2023 Philippine Investment Forum, an annual gathering of Taiwan companies and associations interested in investing and doing business in the Philippines. As a pioneer of the ecozone program, PEZA aims to spearhead the investment promotions of the country and inspire more Taiwanese companies to do business in the Philippines.
PEZA also explored new strategic areas of collaboration with the Taiwan Smart Electric Bicycle Association (TSEBA), a non-profit public welfare social organization integrating and promoting the exchange and development of Taiwanese manufacturers of smart electric bicycles and other equipment and components, for the goal of energy conservation and carbon reduction around the world.
Finally, PEZA participated in numerous business-to-business (B2B) meetings with potential Taiwanese investors who have been targeting the Philippines as their next investment location. With a total of PhP 20.6 billion in investment leads and pledges from this mission, PEZA has influenced and assured the decision-makers of Taiwan-based global industry players to proceed and finalize their investment plans in the Philippines through PEZA.
Philippine Investment Forum hosted and organized by PEZA and PTIC-Taipei
With the consolidation of several trade and investment leads and the alliance with strategic networks for an economic update, this investment forum became an avenue for one hundred fifty-four (154) participants from prominent Taiwanese companies and distinguished associations interested to explore business opportunities and expansion plans in the Philippines.
The organizers invited notable guest speakers such as Ms. Kristy Hsu, Director of the Taiwan ASEAN Studies Center of Chung-Hua Institution for Economic Research, Dr. Sharon Wu, Research Manager of Industry, Science and Technology International Strategy Center, and Mr. Chris Hung, Vice President and Director General of the Market Intelligence & Consulting Institute. Their presentations highlighted the benefits of the supply chain and business models in the Philippines, the current investment opportunities regarding the public/commercial transportation, infrastructure, power storage/power grid, telecoms and collection data and software, and service-oriented potentials.
Speakers from the Philippines’ side include Trade Undersecretary Rafaelita Aldaba, who accentuated the overview of the Philippine innovation agenda, PEZA Director General Tereso Panga, who presented the features and supply chain opportunities of the economic zones, and Atty. Carlos Ocampo of OM Law, who provided the business regulatory requirements and the company registration procedure to guide the Taiwanese investors in doing business in the Philippines.
As one of the top ecozone investors, Taiwanese locators contribute a total of PhP 33.165 billion in investments, created 38,481 new employment to Filipinos, and supplied $ 529.716 million amount of exports from the Philippines. Director General Panga emphasized that with the newest reinforcement, the Southbound Policy Treaty, PEZA aims to grow more investments and deepen our friendship and economic endeavors with Taiwanese companies. PEZA, with the assistance of the Department of Trade and Industry (DTI), PTIC-Taipei, Manila Economic and Cultural Office (MECO), Taipei Economic and Cultural Office (TECO), industrial park developers and other ecozone stakeholders, will actively promote the eco-zoning of the Philippines towards inclusive and sustainable development.
Sercomm Spokesperson and Vice President for Corporate Communications Mr. Charlton Chen shared their company’s awe-inspiring growth in the Philippines in a short span of time. To quote Mr. Chen’s speech during the forum, “Having strong collaborations with PEZA, Sercomm reaffirms our commitment to invest our manufacturing facility, production scale, and most advanced technologies in the economic zone.” Sercomm is located in Carmelray Industrial Park Special Economic Zone and is considered as a global industry player in the manufacturing/assembly of internet accessories, parts and equipment, with a sizeable share in major markets such as North America, Europe, and Asia-Pacific.
For this investment promotion mission to Taipei, PEZA was joined by the leading ecozone developers such as First Philippine Industrial Park (FPIP), Science Park of the Philippines (SPPI), TECO Industrial Park, and the newly approved Taiwanese-owned Philtai Industrial Park. SPPI likewise participated in the Taitronics Taipei exhibition 2023, which showcased the latest technologies and advancements in the fields of automotive electronics, internet of things (IoT), industrial process and automation equipment, green energy, advanced communication technology and next-generation applications.
On sustainable innovation and development
In line with President Ferdinand Marcos’ desire of making the Philippines a part of the global chain of electric vehicles, PEZA and PTIC-Taipei held a briefing with TSEBA on electric and smart bicycle-related opportunities in the Philippines.
TSEBA is an association with around one hundred (100) members with the capabilities in the electric vehicle industry, as represented by its Secretary General Mr. Thompson Su.
PEZA Director General Panga informed TSEBA that the electric bicycle supply chain in the Philippines is vibrant, featuring the likes of locators Shin-Etsu Magnetics Philippines, Inc. (SEMPI) and Shimano (Philippines), Inc. (SPI), and encouraged the companies during the briefing to explore major investment opportunities through a predictable investment environment and other advantages of locating inside PEZA economic zones in the Philippines.
More Taiwanese secured pledges and investment leads
One promising investment lead is a consortium of Japanese and Taiwanese companies that will engage in the business of compostable packaging manufacturing, with a proposed PhP 11.361 billion capital investment. Led by a leading brand of compostable products and resins with offices in Asia, Europe and North America, the consortium is interested in the manufacturing of innovative finished products for applications like compostable packaging and compostable food service applications in the Philippines.
Meanwhile, a company from the manufacturing and renewable energy industries, mainly in the recycled waste paper as its raw material and the vertical integration of low carbon papermaking and eco-packaging, signified that they will potentially invest a total of PhP 7.953 billion. The same company is also interested in developing a waste-to-energy plant.
Another manufacturing company is interested in investing PhP 681.845 million, to expand their business as an Electronic Manufacturing Services (EMS) provider. The said company manufactures, assembles, inspects and tests products based on customer design and quality requirements while providing “engineering support” to customers whenever required.
Meanwhile, a prospective investor has finally decided and undertaken a PhP 484 million investment during a fruitful meeting with PEZA and PTIC-Taipei. It is a company devoted to the development of eco-friendly products of non-asbestos friction materials which are successfully applied to bicycle disc brake systems.
PEZA and PTIC-Taipei also met with one of the largest companies dedicated to precision stampings in Asia, driven to provide the highest quality one stop advanced precision metal stamping and plastic molding service worldwide, and claiming to be the first metal stamping company with the biggest metal stamping equipment in Taiwan. The company informed PEZA and PTIC-Taipei that they plan to initially invest PhP 171 million, upon the recommendation of another long-time PEZA locator who happens to be their largest client. After hearing the prospective locators’ experience, DG Panga emphasized the importance of providing the best aftercare services for locators, claiming that “the best promoter is a satisfied customer.”
Lastly, an Asian market leading manufacturer dedicated to creating innovative air care products with sustainable sales and growth in the global market is currently in the negotiation process of leasing in a PEZA-registered economic zone.