THE Philippine Economic Zone Authority said it has recorded seven investment pledges amounting to $65 million during its investment mission in Taiwan.
The agency said some of the investment pledges come from AcBel Polytech Inc. and Yeng Hsing Philippine Branch. PEZA said this includes Asia Optical Co., Inc, a company that is into the scope of guns products. It wants to put up an agro-industrial park with a 5-hectare ecozone area requirement, and with an estimated initial cost of investment at P1 billion.
According to PEZA, the four-day investment mission was in collaboration with the Department of Trade and Industry -Philippine Trade and Investment Center , the Board of Investments , Manila Economic and Cultural Office , Taipei Economic and Cultural Office, and Taiwanese Business Chambers. “We aim to attract more investments in high-technology industries as Taiwan’s economy is driven by a competitive manufacturing sector in the fields of electronics, machinery, petrochemicals, energy, and information and communications technology products,” Panga said.
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