Taiwanese companies continue to invest in the Philippines despite the pandemic.
Michael Hsu, representative of Taipei Economic and Cultural Office in the Philippines, in his speech at the Global Biz Forum last week said two Taiwanese companies chose to invest in the country in 2020.
These are Adapter Technology Co. Ltd. and Sunon Properties Philippines Corp.
Hsu said Taiwanese investments in the Philippine Economic Zone Authority (PEZA) now stand t P 32.3 billion creating 40,000 jobs.
There are 112 Taiwanese locators in economic zones, mainly investing in electric equipment and apparatus, metal products manufacturing, as well as real estate industry, making
The most significant investors include Kinpo Electronics (Philippines) Inc., Acbel Polytech Philippines Inc. and Tong Hsing Electronics Philippines Inc.
“We have been receiving inquiries about investing in the Philippines since the outbreak of COVID-19 (new coronavirus disease 2019) pandemic. We look forward to more Taiwanese investors coming to the Philippines when the pandemic is further mitigated,” Hsu said.
In the same event, Jake Jan, vice president for marketing of PEZA-registered TECO Industrial Park in Pampanga said the company recently opened its newest space covering about 110 hectares of land available for sale and lease for light two medium industries.
According to the company website, TECO has the distinction of being the only industrial park in the country with two co-generation power plants.
Its 135-MW baseload capacity ensures that all TECO locators have access to high-quality, reliable, clean power at significantly lower delivered power rates.
“We are also diversifying our energy portfolio by renewable energies such as a solar and waste- to-energy power plant into the park as energy resources,” Jan said.
Jan said TECO Industrial also set up aTa ipei office in early 2021.
TECO Industrial Park has more than 25 locators with 32 percent Taiwanese companies.
TECO is a 250-hectare industrial park that is privately owned.
