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Manila Bulletin devider Business devider 3 big multinational firms plan ecozone expansions

3 big multinational firms plan ecozone expansions

Published Jan 3, 2022 04:40 pm

At least three multinational firms are seen undertaking massive expansions in their operations in the country, mostly involving electronics manufacturing and medical projects in the economic zones.

Philippine Economic Zone Authority

These firms include existing electronics investors Amkor, Murata and Samsung. Top officials of these firms and the Philippine Economic Zone Authority (PEZA) held meetings just before the Christmas break to discuss about their expansion plans.

A PEZA official said that Amkor’s expansion plan could reach P16 billion. “Amkor is still finalizing with principal headquarters their proposed expansion plans subject to new CREATE tax and incentives,” said PEZA Director General Charito B. Plaza.

PEZA Director General Charito B. Plaza

Murata is currently producing specific printer models in the country while Samsung has a major electronics manufacturing project in PEZA-administered ecozones.

Aside from these three major global firms, PEZA also held meetings with Taiwanese investors last month. These include Taiwanese firm Yeonho Electronics President Kyeong Heyon An, First Cavite Industrial Estate (FCIE) Investors Association, FCIE Chairman GM Ruffy Malamyun, and Philippine Ecozone Business Club Chairman Raju Sharma.

Sharma is not just looking into expansion of its existing operation at FCIE, but also vowed to bring in new Chinese investors to develop their own ecozone.

There were also top level meetings with the Taiwan Economic and Cultural Office (TECO) led by Director Josephine Shun and Taiwanese Business Association.

The Furukawa Group headed by Mr. Ogawa and MMG Federation also visited First Bulacan Industrial Park in Malolos. Another Taiwanese investor YFC is investing in Hermosa, Bataan, a PEZA official said.

The official further said that another company called MMG will venture into personal protective equipment manufacturing, drug tolling, and IT center development.

“All gearing up for the economic upturn and registration of their big ecozone projects with PEZA in 1Q2022,” the PEZA official added.

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