Taiwanese firms engaged in industrial parts manufacturing,
trading, and logistics are keen on expanding their operations in the
Philippines, according to the Board of Investments (BOI).
Taiwanese Delegation joined by DTI/BOI officials: IDS Executive
Director Ma. Corazon Halili-Diichosa (seated, fourth from left); IPS Executive
Director Evariste Cagatan (seated, center); IIPS Director Lanie Dormiendo
(seated, fourth from right); DTI Assistant Secretary Glenn Peñaranda (standing,
center); Head of Delegation, Mr. Best Chang, (standing, fourth from right); and
Investment Officer, Mr Terry Lin (standing, rightmost)
A business delegation visited the BOI on March 6 as a return
mission to the agency’s investment promotion in Taiwan in October last year.
The BOI and the Philippine Trade and Investment Center (PTIC) and the Manila
Economic and Cultural Office (MECO) in Taipei, represented by Investment
Officer Terry Lin jointly organized an investment briefing for the delegation.
BOI Executive Director Ma. Corazon Halili-Dichosa said that
headed Mr. Best Chang, general Manager of Sky Movement Logistics Inc., the
business delegation was comprised of representatives from 10 Taiwanese
companies interested in growing their businesses in manufacturing (screws,
aluminum extrusion products, steel products, general machinery, and maintenance
services, centrifugal fans, axial fans, centrifugal blowers, hardware fittings,
brake pads, brake shoes, paper container products, etc.), trading, and
logistics sectors.
Halili-Dichosa underscored the Philippines’ value
proposition in selected sectors, particularly electronics, IC design, iron and steel, and logistics services) of
strategic interest to Taiwanese firms.
She noted recent developments and the strengths of
Philippine industries, which make for a compelling case for Taiwanese companies
to explore for a brighter future not only for their businesses but for the
Philippines as well.
Meantime, Trade Undersecretary and BOI Managing Head
Ceferino S. Rodolfo warmly received the delegation, thanking them for finally
visiting the Philippines to see firsthand what the country could offer for the
growth and expansion of their business.
“The Philippines has much to offer to Taiwanese companies,”
Rodolfo told the business delegation members. “The Philippine economy has shown
strong growth momentum, evident in our improved economic performance in 2022.
Moreover, we are home to a highly skilled and innovation-ready workforce who
can successfully and efficiently drive your company’s operations. The
Philippine government also continues to improve its business climate through
game-changing laws, such as CREATE Act, to make it easier to do business in the
country.”
Rodolfo further shared that the BOI has received “very
strong interest” from Japan, South Korea, and Taiwan in further investing in
the Philippines.
“As the world is shifting to green solutions and finding
more sustainable sources of energy, these economies see the Philippines as the
best location to host their renewable energy projects,” he said citing the Philippines
location near the equator, making it ideal for solar projects and perfect
destination for offshore wind and tidal energy projects.
“We also have an abundance of green minerals such as nickel,
cobalt, and copper, which are key to going into cleaner energy applications
such as renewable energy, electric vehicles, and battery technologies,” Rodolfo
added.
In addition, he said, the Philippines is now part of the
Regional Comprehensive Economic Partnership, which eases market access among
member countries.
Adding to these advantages are improvements in the delivery
of government services with the recent issuance of Executive Order No. 18,
which provides “green lanes” for strategic investments, expediting and
streamlining the processes and requirements for issuing business permits and
licenses, and addressing investor issues and concerns.
PTIC Taipei Director Anthony B. Rivera expressed confidence
in attracting more investors from Taiwan as part of the BOI drive to encourage
science technology and innovation driven manufacturing projects into the
country.
Taiwan ranks as the Philippines 10th investment partner with
total approved investments of P2.12 billion in the last two years. Taiwanese companies who have already
established their footprint in the Philippines include the EMS company, New
Kinpo Group and its subsidiary Acbel Polytech Philippines Inc., which develops,
manufactures, and sells power management solutions; Sercomm Philippines
Corporation engaged in the manufacturing/assembly of internet accessories,
parts, and equipment and now setting up an R&D center; Medtecs International
Corporation Limited, an original product manufacturer of a wide range of
medical consumables, and hospital and work wear apparels; and TECO, that does
motors manufacturing, among others.