PEZA gets P20.6B in leads, pledges from Taiwan
THE Philippine Economic Zone Authority (PEZA) has secured P20.6 billion worth of investment leads and pledges from Taiwanese investors.
The PEZA said Friday that Taiwanese companies and business associations expressed interest in investing and doing business in the Philippines during the Philippine Investment Forum from October 23 to 27, 2023, held in partnership with the Philippine Trade and Investment Center-Taipei (PTIC-Taipei) in Taiwan.
One of the investment leads totaling P11.361 billion was from a consortium of Japanese and Taiwanese companies in the compostable packaging industry.
“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 in a statement.
Also, an pledge of P7.953 billion is from “a company from the manufacturing and renewable energy industries, mainly in the recycled wastepaper as its raw material and the vertical integration of low carbon papermaking and eco-packaging.”
the PEZA added that the company was interested in developing a waste-to-energy plant in the Philippines.
Furthermore, an electronics manufacturing services provider pledged to expand its business in the country with an investment amounting to P681.845 million. The company manufactures, assembles, inspects and tests products based on customer design and quality requirements while providing engineering support to customers.
Another company engaged in the development of eco-friendly, non-asbestos friction materials that are used for bicycle disc brake systems was said to have decided to invest P484 million in the country.
The PEZA also announced that it met one of the largest companies dedicated to precision stampings in Asia and also the first metal stamping company with the biggest metal stamping equipment in Taiwan.
“The company informed PEZA and PTIC-Taipei that they plan to initially invest P171 million, upon the recommendation of another long-time PEZA locator who happens to be their largest client,” the agency said.
A leading Asian manufacturer of air care products is also currently negotiating to lease a PEZA-registered economic zone.
The PEZA and the PTIC-Taipei also held a briefing with the Taiwan Smart Electric Bicycle Association (Tseba), represented by its Secretary General Thompson Su, for collaboration related to electric and smart bicycles.
The Tseba is a nonprofit public welfare organization integrating and promoting the exchange and development of Taiwanese manufacturers of smart electric bicycles and other equipment and components. Their goal is to contribute to energy conservation and carbon reduction globally.