Taiwan aims to expand its SME footprint in Southeast Asia by proposing an industrial park in the Philippines. The plan, discussed between PEZA and Taiwanese officials, focuses on energy and power supply industries, aiming to strengthen economic cooperation and industrial growth.
Taiwan's Ministry of Economic Affairs is proposing to build an industrial park in the Philippines as part of its strategy to expand the presence of small and medium enterprises (SMEs) in Southeast Asia. The Philippine Economic Zone Authority (PEZA) announced this plan on Friday following a January 16 meeting at its Pasay office. The meeting brought together PEZA officials and a Taiwanese delegation led by International Trade Administration Director General Cynthia Kiang.
According to PEZA, the initiative aims to deploy SMEs in Southeast Asian countries, particularly in industries specializing in energy and power supply, to strengthen economic cooperation and foster industrial growth. PEZA Deputy Director General for Policy and Planning Anidelle Joy Alguso presented an overview of investment prospects in PEZA-registered ecozones. Discussions centered around ongoing efforts to attract Taiwanese investments in electronics, semiconductors, pharmaceuticals, and emerging sectors such as knowledge, innovation, science, and technology. Kiang emphasized Taiwan's commitment to strengthening economic ties with the Philippines, highlighting the proposed industrial park as a key project. As of September 2024, PEZA has been hosting 83 Taiwanese-registered companies and projects, representing a total investment of P19 billion and creating 26,000 direct jobs. PEZA Director General Tereso Panga stated in October 2024 that Taiwan's Plus One Strategy and New Southbound Policy, which aim to mitigate economic risks and supply chain vulnerabilities by encouraging Taiwanese companies to establish operations in additional countries, particularly in Southeast Asia and India, make the Philippines a compelling investment destination and alternative for Taiwanese businesses seeking domestic and manufacturing sites. PEZA aspires to attract strategic and high-tech industries from Taiwan to enhance the sophistication of ecozone products, diversify exports, generate both labor-intensive and high-skilled jobs, facilitate knowledge transfer, bolster the local supply chain, and stimulate the formation of industry clusters in the Philippines
INDUSTRIAL PARK TAIWAN PHILIPPINES Smes ECONOMIC COOPERATION SOUTHEAST ASIA
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