PEZA plans to ink more high-tech deals in Taiwan
The Philippine Economic Zone Authority (PEZA) aims to attract more investments in high-technology industries from Taiwan.
According to PEZA OIC and Deputy Director General Tereso Panga, the Philippines could benefit from Taiwan’s tech advancement, especially since the latter’s economy is driven by a competitive manufacturing sector in the fields of electronics, machinery, petrochemicals, energy, and ICT products.
He added that these planned investments would provide for “ecozone product sophistication, export diversification, labor-intensive and high-skilled jobs, knowledge transfer, enhanced local supply chain, and creation of industry clusters.”
Currently, a Philippine delegation led by Department of Trade and Industry (DTI) Undersecretary Ceferino Rodolfo is visiting Taiwan for a Philippine Investment Mission.
As of July 2022, there are 108 Taiwanese companies registered in PEZA with total investments amounting to PHP32.87 billion (US$ 562 million).
These firms are engaged in the manufacturing of electrical machinery and apparatus, apparel, fabricated metal products, radio, television, and communication equipment and apparatus, as well as real estate activities.
