The government is exploring more business opportunities for Singapore-based technology company Dyson to increase its market share in the region after it has pledged to invest P11 billion and hire 1,250 workers next year.
Department of Trade and Industry (DTI) Secretary Alfredo E. Pascual said DTI will have closer talks with the company for other possible investments such as in the area of skills' improvement as it expands its operations in the country.
"We are also eager to explore further partnerships with your company, in collaboration with our state universities and the DTI," Pascual told Dyson officials when he was in Singapore for an Asia summit.
He said Dyson's presence in the Philippines "significantly contributes to investment generation and job creation" and that as a locator within the Philippine Economic Zone Authority (PEZA), this further "opened opportunities for Filipino engineers."
The fresh investments are aimed at increasing Dyson's market share in Asia by leveraging the country's increasing market potential and highly skilled labor pool.
Pascual was with President Ferdinand R. Marcos Jr. when he met with Dyson's Chief Executive Officer Roland Krueger in Singapore last Sept. 16 to discuss the tech company’s expansion plans in the Philippines.
During the meeting, Krueger confirmed Dyson's P11 billion investment expansion in the Philippines, which aims to establish the nation as a "center of excellence" for its cutting-edge product line.
This commitment aligns with Dyson's ongoing construction of a new research and manufacturing center in Sto. Tomas, Batangas, which is part of a broader expansion blueprint in Asia and Europe. The construction has already reached 30 percent completion as of July 2023.
By the first quarter of 2024, Dyson Philippines aims to initiate its transition to the new facility with plans to be fully operational by 2025.
Dyson Philippines intends to hire an additional 400 engineers and more than 50 graduate engineers upon the completion of its New Campus. The R&D teams will concentrate on fields like software, artificial intelligence, robotics, fluid dynamics, and electrical hardware.
Additionally, Dyson noted that their investment will lead to the creation of about 1,250 new jobs and plans to move more contract manufacturing to the Philippines by the second or third quarter of 2024.
During the meeting, Secretary Pascual acknowledged Dyson's significant contribution to the Philippine economy, particularly through the Dyson Electronics PTE. LTD located in Carmelray Industrial Park II, Calamba, Laguna.
As of May 2023, Dyson, known for designing and manufacturing household appliances such as vacuum cleaners, air purifiers, hand dryers, bladeless fans, heaters, and lights, operates 12 projects under PEZA with $183.39 million or P10.22 billion worth of investment, hiring 841 employees.
Since its PEZA registration in 2016, Dyson has contributed $4.73 billion in export sales. (Ma. Joselie C. Garcia)