MANILA, Philippines – More inbound business missions from Taiwan to the Philippines are expected as the government actively promotes the country as a gateway or hub for the Association of Southeast Asian Nations (ASEAN) region, the Department of Trade and Industry (DTI) said.
Trade undersecretary Ponciano Manalo Jr. said yesterday more business missions from Taiwan are expected in the country following his visit there late last month to encourage firms to explore trade and investment opportunities.
“With its strong economic performance, flourishing business opportunities, and proximity, the Philippines is in a firm position to encourage Taiwan in closely considering our country as their gateway or hub for the ASEAN market,” he said.
During the investment seminar held in Taiwan attended by about 100 participants engaged in the electronics industry, particularly in photonics light emitting diode (LED) applications, imaging devices and photovoltaic and green technology, Manalo cited the advantages of pouring in funds here such as the country’s strategic business location to the ASEAN market, rich talent pool, first-class lifestyle, and attractive investment incentives.
Manalo met with Taiwanese companies engaged in the global electronics supply chain which have expressed keen interest in investing in the Philippines.
He said other Taiwanese firms were also interested in opportunities in software park development, electric vehicle production, and aircraft maintenance, repair and overhaul services.
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Investment opportunities in the Philippines for Taiwan’s firms include LED module packaging assembly, printer and related equipment, automotive manufacturing (including electronic auto parts), shipbuilding and yacht-building, agribusiness and aquaculture, and information and communications technology.
Apart from encouraging Taiwanese firms to invest here, Manalo also met with his counterparts at the Taiwan External Trade Development Council and Ministry of Economic Affairs to strengthen economic relations between the two parties.
The parties discussed various projects and activities for possible cooperation on trade and investment promotion.
Manalo also met with Import Export Association of Taipei (IEAT) chairman John Huang to organize a trade mission to the Philippines this year.
The IEAT is the biggest trade association in Taiwan.
