These multinational firms are here to stay

The high quality of workers and the strategic location of the country continue to make the Philippines an attractive investment site for foreign manufacturers, particularly those in the electronics and manufacturing sectors, according to an informal poll of multinational locators at the Laguna Technopark, Inc. (LTI). The observations are borne out by reports from the Philippine Economic Zone Authority that economic zone investments from January to October this year grew slightly from P20.7 billion to P22.3 billion.

According to Ippei Futaki, president of Toshiba, Filipinos have a good command of English "which easily facilitates the easy transfer of technical information." He explains that a culture of quality exists upheld primarily by the many Filipino engineers who graduate each year from local universities. This, an addition to the strategic location of the Philippines, has sustained Toshiba’s operations in its plant at the Laguna Tech-nopark, Inc. in Sta. Rosa, Laguna, where 150,000 laptops are produced each month.

A top of Fujitsu Computer Products, also located at the Laguna Technopark, discloses: "The quality of workers in the Philippines is far better than that of Thailand and approximates that of Japanese workers at a fifth of the cost."

Contrary to the perception that the exodus of multinational manufacturers to other countries cannot be stopped, it appears that many companies that moved here in the ’90s and whose global businesses have remained viable are here to stay. Joseph Caneba of Hitachi Global Storage Technologies which employs 7,000 employees at its plant at the Laguna Technopark, discloses that the demand for hard disk drives manufactured by its company has continued to grow worldwide since the mid-90s. "Definitely, any expansion will be made here at our present site at the Laguna Technopark. We still have plenty of space and the core technologies of the company are well placed in the current site."

Marivic Anonuevo, president of LTI which also hosts Honda, Henkel and other global names, relates that her firm continues to receive inquiries from both local and foreign businesses seeking high-grade facilities and a convenient location," she says.