News » Israeli tech conglomerate to relocate from China to PH

Israeli tech conglomerate to relocate from China to PH

Israeli tech conglomerate to relocate from China to PH

An Israeli technology conglomerate with 16 subsidiaries in China is transferring all its operations to the Philippines by 2021, according to the Philippine Economic Zone Authority (PEZA).

PEZA Director General Charito Plaza said the Israeli conglomerate was set to sign a memorandum of understanding with the agency in December to formalize their intention to invest in the Philippines.

Plaza added that the Israeli investments would likely enable PEZA to meet its P100-billion investment target this year, after several prospective projects did not materialize.

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