The Philippine Economic Zone Authority (PEZA) on Friday reported it secured P20.6 billion in investment leads and pledges from Taiwanese investors, particularly in the area of packaging manufacturing, among others.
In news statement, the investment promotion agency said it partnered with Philippine Trade and Investment Center-Taipei (PTIC-Taipei) in leading a 5-day outbound mission to Taiwan for the 2023 Philippine Investment Forum, an annual gathering of Taiwan companies and associations interested in investing and doing business in the Philippines.
PEZA said one “promising” investment lead is a consortium of Japanese and Taiwanese firms that will engage in the business of compostable packaging manufacturing with a proposed P11.361 billion capital investment.
“Led by a leading brand of compostable products and resins with offices in Asia, Europe and North America, the consortium is interested in the manufacturing of innovative finished products for applications, like compostable packaging and compostable food service applications in the Philippines,” PEZA said.
Meanwhile, PEZA noted a company from the manufacturing and renewable energy industries, which mainly use recycled waste paper as its raw material and the vertical integration of low carbon papermaking and eco-packaging, signified that they would potentially invest a total of P7.953 billion.
The same company, it added, is interested in developing a waste-to-energy plant.
Another manufacturing company is interested in investing P681.845 million to expand its business as an Electronic Manufacturing Services (EMS) provider.
The investment promotion agency said this company manufactures, assembles, inspects and tests products based on customer design and quality requirements, while providing engineering support to customers whenever required.
PEZA also noted that a prospective investor “has finally decided and undertaken” a P484-million investment during a meeting with PEZA and PTIC-Taipei.
This company is into the development of eco-friendly products of non-asbestos friction materials, which are “successfully” applied to bicycle disc brake system.
PEZA and PTIC-Taipei said they also met with “one of the largest companies dedicated to precision stampings in Asia.”
This firm, PEZA noted, is “driven to provide the highest quality one stop advanced precision metal stamping and plastic molding service worldwide, and claiming to be the first metal stamping company with the biggest metal stamping equipment in Taiwan.”
This company informed PEZA and PTIC-Taipei that they plan to initially invest P171 million, upon the recommendation of another “long-time PEZA locator who happens to be their largest client.”
Meanwhile, PEZA also reported that an Asian market leading manufacturer that’s into creating innovative air care products with sustainable sales and growth in the global market is currently in the negotiation process of leasing in a PEZA-registered economic zone.
As one of the top ecozone investors, PEZA said Taiwanese locators contribute a total of P33.165 billion in investments, created 38,481 new employment to Filipinos, and supplied $529.716 million of exports from the Philippines.