Wednesday, 16 December 2009

Taiwan’s investments in RP double in 2009

Manila Bulletin

TAIPEI – Investments from Taiwan to the Philippines in 2009 have reached $113 million or more than double than that of the 2008 actual inflow of $45.7 million.

The target for next year is to double the investments haul in 2009 to $226 million with investment leads coming mainly from the power sector, especially in biofuels production.

Philippine trade attaché Dita Angara-Mathay of the Manila Economic and Cultural Office (MECO) told visiting journalists that Taiwanese investments are looking at the Visayas and Mindanao areas doing their due diligence.

"There are biofuels projects expected to come in next year," Angara-Mathay said. The interest in the power generation sector has become attractive for Taiwanese investors. Of the total investments in 2009, the power sector accounts for 50 percent.
The Philippines is also hoping to host some big ticket investors in the ICT sector, which may relocate or expand in the Philippines from Vietnam.

"So, we are very optimistic in our prospects for next year," she said.

Angara-Mathay also said they have not given up yet on the Taiwanese footwear manufacturers saying that the plans are going to be firmed up in the first half of next year to relocate some of their production to the Philippines.

The Taiwanese footwear producers are also going to relocate in Bataan rather than in Marikina, which can no longer provide enough space for their facilities.

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