RP hopes to take advantage of Taiwan’s ‘go south’ policy

Trade and Industry Secretary Manuel Roxas II assured visiting Taiwanese businessmen yesterday that the government will ensure an attractive business environment and address their concerns about labor, peace and order and rising utility costs.

Roxas met yesterday with a Taiwanese business delegation headed by billionaire Jeffrey L. S. Koo.

"The government intends to take advantage of Taiwan’s go south policy," Roxas said, adding that "in doing so, government would also try to offer more alternative investment locations for the Taiwanese investors aside from the Subic freeport."

According to Roxas, government wants to attract more Taiwanese investments in industrial production, semi-conductor and electronics, auto parts and chemical industries.

"The Philippines has a lot to offer Taiwan in terms of proximity to the island state, an English and Chinese speaking workforce and Western-style business processes," he said.

Taiwan, Roxas said, is a rich source of capital, technology and trade.

Last year, trade between the Philippines and Taiwan stood at $4.6 billion.

However, relations between the two countries were almost strained due to a bilateral air dispute and labor problems.

Government, however, has worked on those two issues, enticing Taiwanese investors to come back.