The Philippine Economic Zone Authority on Monday announced it has secured P10.8 billion worth of investment expansion commitments from PEZA-registered Japanese enterprises.
“The ongoing investment plan [of Taiyo Yuden] covers the calendar year 2023-2024, with the total investment amounting to P1.6 billion. This signifies a continued era of trust and confidence in the country’s investment facilitation climate,” Panga said in a news statement. In relation to the secured Japanese investments, Panga said 2023 is “proving to mark the significant rise of the semiconductor industry with several industry leaders proceeding with their expansion plans to address the projected demand in their products due to the rise of the electronic vehicle industry and steady technological advancements in the downsizing of gadgets and their parts.”
SME Support Senior Director General Soma Hirohisa said SME Support is “looking forward to the possible partnership with PEZA to produce more success stories for Japanese SMEs, similar to those who set up manufacturing facility in the ecozones to export these products to Japan and other global markets.”