MANILA, Philippines — An American electronics firm is seriously considering of relocating its Japan manufacturing facility in the Philippines with investments of $300 million, Trade and Industry undersecretary for trade and investments promotion Cristino L. Panlilio said.

"We are 95 percent sure of bagging this project. We have a very good chance," Panlilio said.

Panlilio, however, refused to divulge the identity of the company as negotiations are still ongoing except giving hints that the company is based in Chicago and is the worlds’ second largest in its computer accessory manufacturing line of business.

The potential investor has a manufacturing plant in Japan that it plans to relocate. It has also a manufacturing facility in China and an operation in Singapore. It supplies the computer accessory to Asia and US markets.

Panlilio had already met with the company president who came over and accompanied the executive during a location prospecting.

"They are deciding between Clark Special Economic Zone and TIPCO Industrial Estate in Mabalacat, Pampanga," he said.

The company is looking at a 10-hectare facility in Clark or a 20-hectare property in TIPCO.

Based on the company's plan, Panlilio said, they would initially invest $70 million and the remaining $230 million for the second and third phases.

"If they are satisfied in the Philippine situation they would expand in a 20-hectare lot and even go for a third expansion," Panlilio said. The company plans to establish a total of three factory sites.

"They have operations in Japan and China so that means they are not averse to investing abroad," said Panlilio.

The Philippines commercial attache’s office in Chicago under Glen Penaranda is facilitating this potential huge investment.

While Panlilio is confident about the project, he said, "I don't want to count the eggs before they are hatched." (BCM)