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Manila Bulletin devider Business devider Trade & Industry devider DTI eyes investment from Czech tech giant

DTI eyes investment from Czech tech giant

Published Mar 17, 2024 02:03 pm

The Department of Trade and Industry (DTI) expressed optimism for a potential investment from Czech tech giant ERA to boost the Philippines’ software development and information technology (IT) sector, following the Philippine delegation’s visit to Czech Republic. 

A statement to the press by DTI stated that ERA conveyed plans to enter the Philippines’ electronics manufacturing industry during President Ferdinand Marcos Jr.’s, meeting with the company on March 15.

ERA is considered as a leading firm in surveillance and reconnaissance technologies manufacturing, and flight tracking systems.  

By integrating with the local electronics manufacturing sector, ERA seeks to help advance the Philippines’ software development, IT infrastructure support, manufacturing, final assembly, and maintenance products and services.

Currently, there are 1,000 companies operating in the semiconductor and electronics industry, including global electronics giants like Infineon, TDM Philippines Corporation and Dyson, which have generated around three million jobs for Filipinos.

“ERA's plans align perfectly with the Philippines' strategic vision for economic development. We're excited about the immense potential for collaboration and technological knowledge transfer between ERA and other leading industrial players,” said Trade Secretary Alfredo Pascual.

ERA also noted their interest in helping the Philippines in both the civilian and military sectors in terms of technological assistance and support.

Aside from the electronics sector, ERA is also looking into tapping the Philippine Information Technology and Business Process Management (IT-BPM) industry and supporting businesses that require digital and high-complexity work.

Particularly, the pool of young Filipino talent was highlighted by ERA, noting how the Filipino workforce can help on the local expansion of their operations, as the country produces 800,000 graduates annually

“This collaboration aligns perfectly with the 'Make It Happen' initiative, and the DTI and BOI stand ready to provide them with the necessary support to establish their operations here in the Philippines,” said Pascual.

“This partnership has the potential to significantly bolster our nation's technological capabilities, ultimately creating new jobs and solidifying our position as a regional leader in innovation," he added.

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