Taiwanese traders decry worsening peace and order

The Taiwanese business community is concerned about the worsening peace and order situation as well as labor disputes in the country.

The Taiwan Economic and Cultural Office (TECO) expressed concern that labor problems such as the ongoing labor dispute at a Nissan Motor Philippines Inc. plant may adversely affect investor confidence in the country.

"If the issue drags on, it will create unnecessary attention," Benjamin Lo, TECO representative said.

The peace and order situation is also another area of concern of the Taiwanese business group, although the Taiwan embassy has not issued any negative travel advisory. "We are the only embassy here that did not issue travel advisories to our nationals."

TECO is targeting a $1-billion investment inflows into the country from Taiwanese investors alone in the next three years.

"The target is achievable especially that both governments are involved in the effort," Lo said, citing the $86-million investment made by the Taiwanese giant Formosa Group in a co-generation power and steam project with Trust International Paper Corp. (TIPCO).

Antonio Basilio, chairman of the Manila Economic and Cultural Office (MECO) said the office is intensifying its investment promotions in Taiwan. This year alone, MECO expects to attract at least 14 new Taiwanese projects.

The promotion office is likewise targeting Taiwanese investments in petrochemical, leather gods, accessories, aquaculture, garment accessories, processed tropical fruits, fabricated metals and components.

Basilio said that they are also looking at a 15-percnet annual increase in exports through diversified exports mix with emphasis on services like software, engineering and design.