PEZA mission woos more Taiwanese investments

PEZA Mission Woos More Taiwanese Investments

The Philippine Economic Zone Authority (PEZA) has recently embarked on an investment mission to Taiwan, aimed at strengthening economic ties with the country and attracting more Taiwanese companies to do business in the Philippines.

Economic Ties and Investment Opportunities

As part of its efforts, PEZA partnered with Ayala Land and Logistics Holding Corporation (ALLHC) for a business forum that showcased the Philippines as a top investment destination under the Create More law. The agency's focus areas included green manufacturing, electronics, and smart logistics. This initiative is expected to drive growth and development in the country.

Reforms and Benefits

During the forum, PEZA Director General Tereso Panga presented reforms and benefits of the Create More law, as well as enhancements to ease-of-doing business policies. He highlighted the International Monetary Fund's projection that the Philippine economy will be one of seven to watch globally this year. Panga emphasized the country's resilience amidst global and domestic shocks, stating, We meet at a moment when global uncertainty has become the norm rather than the exception. Yet, the Philippine economy has remained resilient amidst global and domestic shocks. Through PEZA economic zones, there is consistency and certainty as we provide a safe haven, a ready skilled workforce, sound business ecosystem, and infrastructure where Taiwanese and other international investors can expand with confidence, stability, and long-term competitiveness.

Meeting with Elig Brake Technologies Corporation

Panga also met with officials from PEZA-registered Taiwanese firm Elig Brake Technologies Corporation, which specializes in precision braking systems and advanced friction material applications. The company is exploring research and development opportunities in green manufacturing and product innovation.

Dialogue with Leading Companies

PEZA and Philippine Trade and Investment Center officials engaged in a dialogue with leading Taiwanese companies from various sectors, including electronics, automotive, steel, real estate development, logistics, and port services. These companies expressed their interest in visiting the Philippines to explore potential investment opportunities.

Visiting Omega 2 Yangmei

On February 6, the PEZA delegation and ALLHC team visited Omega 2 Yangmei, a smart logistics facility in Taoyuan City, Taiwan, developed by Ally Logistic Property (ALP). The facility is one of Asia's largest and most advanced automated warehouses, featuring an automated storage and retrieval system with over 80,000 pallet positions. ALP Vice President Buddy Chou noted that the Philippines is listed on their long-term regional roadmap for smart logistics infrastructure.

PEZA's Track Record

To date, PEZA has registered 78 Taiwanese-registered business enterprises (RBEs) with investments worth over P36 billion and creating more than 45,000 jobs across the country. Some of PEZA's leading Taiwanese locators include ASE, Sunon, Sercomm, CyberPower, and Aromate.

Investment Target

Trade Secretary Cristina Roque expressed confidence that PEZA will hit its investment target of P300 billion this year, which is a 15-percent increase from last year. Since 2022, under the Marcos administration, PEZA has sustained an upward trajectory with an average annual growth rate of 23 percent.

Investment Growth Forecast

This year, PEZA's investment growth is forecast to be driven by manufacturing (60 percent), ecozone development (25 percent), and IT-BPM services (15 percent). Foreign direct investments (FDIs) are also expected from countries such as Japan, the United States, the United Kingdom, South Korea, Singapore, and China.

Conclusion

PEZA's mission to woo more Taiwanese investments is a testament to the government's commitment to creating a favorable business environment that attracts foreign investors. With its track record of success, PEZA is poised to continue driving growth and development in the country.

Edward Lance Arellano Lorilla

CEO / Co-Founder

Enjoy the little things in life. For one day, you may look back and realize they were the big things. Many of life's failures are people who did not realize how close they were to success when they gave up.