Taiwan businesses pledge P21 billion ecozone investments

MANILA, Philippines — A business mission to Taiwan yielded P20.6 billion worth of investment leads and pledges, according to the Philippine Economic Zone Authority (PEZA).

The PEZA participated in numerous business-to-business (B2B) meetings with potential Taiwanese investors who have been targeting the Philippines as their next investment location.

In partnership with the Philippine Trade and Investment Center-Taipei (PITC-Taipei), the investment promotion agency participated in the five-day business mission to Taiwan.

A consortium of Japanese and Taiwanese companies proposed P11.36 billion investment to engage in the business of compostable packaging manufacturing.

“Led by a leading brand of compostable products and resins with offices in Asia, Europe and North America, the consortium is interested in the manufacturing of innovative finished products for applications like compostable packaging and compostable food service applications in the Philippines,” the PEZA said.

Another company from the manufacturing and renewable energy industries has committed P7.95 billion. It uses recycled waste paper as its raw material and the vertical integration of low carbon papermaking and eco-packaging.

The same company, according to PEZA, is also interested in developing a waste-to-energy plant.

The agency added that another manufacturing company also expressed interest in investing P681.84 million to expand their business as an Electronic Manufacturing Services (EMS) provider.

The company manufactures, assembles, inspects and tests products based on customer design and quality requirements while providing engineering support to customers whenever required.

Another prospective investor has finally decided to invest P484 million during a fruitful meeting with PEZA and PTIC-Taipei.

The company is engaged in the development of eco-friendly products of non-asbestos friction materials which are successfully applied to bicycle disc brake system.

PEZA and PTIC-Taipei also met with one of the largest companies dedicated to precision stampings in Asia, driven to provide the highest quality one stop advanced precision metal stamping and plastic molding service worldwide, and claiming to be the first metal stamping company with the biggest metal stamping equipment in Taiwan.

According to PEZA, the company is initially investing P171 million.

The PEZA also shared that an Asian market leading manufacturer dedicated to creating innovative air care products with sustainable sales and growth in the global market is currently in the negotiation process of leasing in a PEZA-registered economic zone.