HK toy makers considering investing in the Philippines
The Board of Investments revealed that Hong Kong toy manufacturers are interested in investing in the Philippines, as disclosed by officers and members of the Toys Manufacturers’ Association of Hong Kong (TMHK).
TMHK president Samson Ko said the firms are seriously looking at the Philippines for possible relocation and expansion plans as they encounter rising production costs.
Trade Undersecretary and BOI managing head Ceferino Rodolfo said that TMHK’s interest in expanding in the Philippines strengthens the country’s positioning as an ideal investment destination.
Rodolfo added that businesses looking to set up operations in the Philippines could gain access to other markets through the country’s free trade agreements (FTAs) and trade preference scheme.
