Taiwanese investments in RP seen to increase

Taiwanese investments are expected to increase as representatives from the government went to Taiwan to discuss investment opportunities in Clark and Subic Freeport zones.

Dita A. Mathay, Manila Economic and Cultural Office (MECO) director for commercial affairs said that Taiwanese locators preferred to locate in the free ports of Subic and Clark because of the natural logistics advantage, relatively lower power rates, and incentives offered to business locators.

In addition to this, there is a memorandum of agreement between Taiwan and the Philippines regarding the Subic-Clark-Kaohsiung economic corridor. Under the agreement, Taiwanese and Filipino firms interested in locating in Subic, Clark and Kaohsiung can enjoy tax and fiscal incentives.

The Philippine delegation will focus on opportunities in information and communication technology, light manufacturing, aviation, logistics and shipbuilding sectors in Clark and Subic.

Subic Bay Metropolitan Authority Administrator and CEO Armand Arreza will present its master plan of development and the existing and emerging investment opportunities for Taiwanese business inside the Subic Freeport.

The delegation is meeting key officials from large Taiwanese business organizations namely the Chinese International Economic Cooperation Association (CIECA), Chinese National Association of Industry and Commerce (CNAIC), Taipei Hsien Computer Association (THCA), Taipei Computer Association (TCA), and Taiwan Shipbuilding Association (TSA).

Various associations of Taiwan ’s tourism and flight charter operators are also joining the forum.