Taiwan eyeing to venture into ecozone dev’t in Phl

A Taiwanese business delegation visited the Philippine Economic Zone Authority (PEZA) to discuss potential investments in ecozone development, PEZA reported on Friday.

The delegation, organized by Taiwan’s Ministry of Economic Affairs and led by International Trade Administration Director General Cynthia Kiang, visited the PEZA office on January 16 to explore collaborative opportunities.

“A key focus of the mission was to explore the development of an industrial park in the Philippines,” PEZA stated. 

This initiative aligns with Taiwan’s economic agenda to deploy small and medium-sized enterprises (SMEs) in Southeast Asia, particularly in energy and power supply industries, to bolster economic cooperation and industrial growth.

PEZA Deputy Director General for Policy and Planning Anidelle Joy Alguso and Ecozone Development Department Manager Ludwig Daza presented investment opportunities within PEZA’s economic zones. 

They highlighted emerging developments such as mega zones, Townships, Knowledge, Innovation, Science and Technology (KIST) Parks, and pharmaceutical ecozones.

The officials also encouraged Taiwanese companies, particularly those in the electronics and semiconductor sectors, to expand their operations in the Philippines, leveraging PEZA’s infrastructure and incentives.

Currently, there are 83 PEZA-registered projects from Taiwanese firms, with investments totaling around P19 billion. These projects have created 26,000 jobs in the Philippines as of September 2024.

The discussions underscored the shared interest of both parties in fostering industrial growth and enhancing economic ties.