PEZA secures P3.88Bn investment pledges from Taiwan
The Philippine Economic Zone Authority (PEZA) secured around P3.88 billion (US$67 million) of investment pledges following the group’s mission to Taiwan last October.
In a statement, the agency said that these pledges came from seven Taiwanese firms, including a US$40million expansion project from tech firm YFC-BonEagle International Inc and a joint investment from manufacturers Neotek and Accton Technology Corporation that could amount up to US$8 million.
Other firms that pledged their commitment to PEZA include Chimei, Budget Energy Copr., AcBel Polytech, and Yeng Hsing Philippines.
PEZA OIC Tereso Panga added that they are aiming to attract more high-tech investments in Taiwan as its economy “is driven by a competitive manufacturing sector in the fields of electronics, machinery, petrochemicals, energy, and information and communications technology (ICT) products.”
As of July 2022, PEZA registered 108 Taiwanese firms with investments amounting to P32.87 billion (US$565 million).
