Taiwan firms eye $9 M investments in Subic

MANILA, Philippines — Two Taiwanese firms engaged in manufacturing have committed to invest a total of $9 million for facilities at the Subic Bay Freeport Zone.

Subic Bay Metropolitan Authority (SBMA) chairman and administrator Wilma Eisma said the investment commitments were made by FTI Holdings Group (Milagros International Inc.) and Grey Matter Industries Group during the recent Philippine Investment Forum held in Taipei.

FTI Holdings, in particular, is planning to pour in $6 million in Subic and hire 600 workers this year.

The group is involved in designing, manufacturing and selling luggage, fashion handbags, backpacks, apparel, outdoor products, as well as pet products and accessories which are sold in the US.

Meanwhile, Grey Matter intends to invest $3 million for a facility in Subic and hire 200 employees.

Grey Matter manufactures PET (polyethylene terephthalate) bottles, plastic films and other plastic products.

Apart from FTI Holdings and Grey Matter, Eisma said six other manufacturing firms have expressed interest to invest in Subic.

These are Rong Shin Industrial Co. Ltd. (lawn and garden power tool muffler system); Catcher Technology Co. Ltd., (supplier of Taiwanese computer giant Wistron); Primax Electronic Ltd., (computer peripherals and accessories); CDStar Co.,Ltd., (Skechers, Keen, Clarks, Asics, Salomon and Novi shoes); Ya Horng Electronics Co. Ltd. (producer of electrical appliances and audio-visual electronic products); and Sagittarius Sporting Good Co. Ltd., (Xiamen Feipeng Industry Co. Ltd.) (sports and protective equipment).

SBMA is currently in talks with the six companies to firm up their investment plans in the country.

Eisma said most of the incoming Taiwanese investors plan to set up facilities in the Tipo area, which is being developed as a major industrial site.