THE Philippine Economic Zone Authority (PEZA) on Monday announced it had secured investment leads in electric vehicles (EVs) and semiconductor testing and packaging from its recent investment mission in Taiwan.
In a statement, PEZA said it had also successfully drawn investors’ interest in smart transportation and smart city development.
PEZA officials led by Director General Tereso Panga conducted meetings in Taipei, Kaohsiung and Pingtung during the trade mission held October 20 to 24.
The officials also met with officers of PEZA-registered companies like Advanced Semiconductor Engineering (ASE), Sunonwealth Electric Machine Industry Co. Ltd. (Sunon Group), Kinpo Electronics Inc., Acbel Polytech Inc., and Yeng Hsing Co. Ltd.
“Taiwan has been an integral partner in the Philippines’ path toward sustained economic growth. As part of Taiwan’s New Southbound Policy, our country has been positioned as a strategic gateway for Taiwan into the Asean region,” Panga said.
“Over the years, both countries signing a bilateral investment agreement has led to stronger cooperation in various sectors, including trade, investment, tourism, technology, agriculture and education,” he added.
Panga said recent economic developments, including the Luzon Economic Corridor (LEC), policy initiatives such as the Create More bill, and energy development goals in the Philippines “are heard and felt in Taiwan and the amount of business opportunities they bring.”
The trade mission was co-organized by the Manila Economic and Cultural Office (MECO) and the Philippine Trade and Investment Center in Taipei.
PEZA is also exploring potential collaboration with the Kaohsiung Linhai Industrial Park, which spans 2,225 hectares and is a major hub for heavy industries.
“The visit allowed PEZA to benchmark the best practices employed in Linhai, as well as find complementary areas of collaboration between the two agencies,” PEZA said.
MECO Chairman Cheloy Gerafil highlighted the Philippines’ economic growth trajectory, anticipating a rise in gross domestic p,roduct (GDP) from 6.5 percent to 8.0 percent by 2028.
“We look forward to sustaining this momentum of collaboration with Taiwan, and we welcome the Taiwan industries to join us in this growth path in the Philippines,” Gerafil said.
The trade mission included visits to key manufacturers including the Sunon Group, which plans to expand operations in the Philippines. PEZA is also seeking new partnerships in aquaculture, focusing on sustainable supply chains.
As of September, PEZA reported it had signed deals with 83 Taiwanese companies with over P19 billion in investments and 27,000 direct hires in electronics, semiconductors, and information technology services.
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