BOI invites Japanese firms to invest in PH
The Board of Investments (BOI) is urging Japanese companies to invest in the Philippines’ medical device manufacturing industry.
This comes as local Filipino manufacturers are striving to produce and export syringes, ventilators, infrared thermometers, and personal protective equipment.
In a statement, BOI Manufacturing Industries Service Director Evariste Cagatan said that the Philippines is an ideal place to invest in due to its “world-class electronics industry, abundance in intellectual talent, ready access to key markets, and ultra-cost efficiencies.”
Philippine Commercial Counselor to Osaka Emmanuel Niño Ang added that Japan is the third largest market globally in terms of medical expenditure due to the Kansai Region’s strong presence in medical device manufacturing and life sciences.
Meanwhile, BOI Governor Angelica P. Mapua-Cayas said that the incentives under the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act may attract more Japanese business leaders to expand in the country.
Several Japanese medical devices companies — such as Arkray, Terumo, JMS Healthcare, Atomed, Yokoisada, and Tokai Medical Products — already run their operations in the Philippines.
