SUBIC BAY FREEPORT – Eight Taiwan-based companies have expressed their interest to invest in this premier freeport.
Subic Bay Metropolitan Authority (SBMA) chairperson and administrator Wilma T. Eisma said Thursday this was the result of her presentation of the investment and business opportunities here during the recent Philippine Investment Forum held in Taipei, Taiwan.
Eisma said two of those Taiwanese firms have so far committed USD9 million in investments.
She said these are the FTI Holdings Group (Milagros International, Inc.), which plans to invest USD6 million in Subic and hire 600 workers within the year; and Grey Matter Industries Group, which has committed to invest USD3 million and hire 200 workers.
FTI Group designs, manufactures and sells luggage, fashion handbags and backpacks, apparel and apparel accessories, outdoor products, and pet products and accessories, which are sold in the United States.
Eisma said FTI’s chief auditor, Paul Lee, already inspected a prospective factory site in Subic’s Tipo area on April 30, and will conduct another inspection with other company officials next month to finalize the new business venture.
Meanwhile, Grey Matter Industries, which is engaged in the manufacture of PET bottles, plastic films and other plastic products, she said, has already sent the SBMA a letter of intent on April 29.
“The SBMA is now in touch with the six other interested Taiwanese companies to firm up (their) investment plans here,” Eisma said.
These prospective investors are Rong Shin Industrial Co., Ltd., which is recognized as the world’s leading manufacturer of lawn and garden power tool muffler system; Catcher Technology Co., Ltd., a major supplier of Taiwanese computer giant Wistron; Primax Electronic Ltd., which manufactures computer peripherals and accessories for the Taiwan, China and the United States markets; CDStar Co., Ltd., manufacturer of Skechers, Keen, Clarks, Asics, Salomon, and Novi shoes; and Ya Horng Electronics Co., Ltd., producer of electrical appliances and audiovisual electronic products for the US, Hong Kong, Japan, Australia, and France.
Another prospective investor is Sagittarius Sporting Good Co., Ltd., (Xiamen Feipeng Industry Co. Ltd.), a manufacturer of sports and protective equipment, which said it intends to produce fishing and sports inflatable boats in Subic.
Eisma noted that most of the incoming Taiwanese investors will locate at the Tipo area, which is being developed by the SBMA as a major industrial site.
Meanwhile, more than 250 Taiwanese investors attended the April 24-26 Taipei trade roadshow organized by the Philippine Investment Promotion Plan, in coordination with the Philippine Trade and Investment Center – Taipei, the commercial affairs section of the Manila Economic and Cultural Office.
The forum showcased investment and business opportunities for Taiwanese industry players who are repositioning their strategy in light of the recent global trade and economic developments and conflicts between major global markets. (PNA)