THE local production of broadband and wireless network equipment manufacturer Sercomm Philippines, Inc. recently reached 10 million units of telecommunications equipment, the Board of Investments (BoI) said.
Having started operations at the Carmelray industrial Park 1 in Laguna in 2019, Sercomm has invested $45 million to date. The company employs around 2,000 people in its Philippine facility, the investment promotion agency said in a press release on Monday.
“We plan to continuously expand our operations to support future business growth in the local and global markets,” Sercomm Chief Executive Officer James Wang said.
The publicly listed Taiwanese company’s revenues reached $219 million in the first two months of 2021, up 41% from $155 million in the same period last year. Total revenues last year reached $1.27 billion.
“[The company’s] decision to put up a Philippine facility barely two years ago, played a major part of its global operations as validated by the numbers in its recent filing,” BoI Managing Head Ceferino S. Rodolfo said.
“Recognizing the opportunities then and the ability to meet global demand by strategically growing their capabilities in the Philippines in support of their global supply chain in a relatively short period has certainly contributed to these milestones.”
Mr. Rodolfo continued to promote the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act, which would cut corporate income tax and reform the Philippine incentives system. President Rodrigo R. Duterte on Friday vetoed nine sections of the bill.
Sercomm is headquartered in Taiwan, where it also has production sites and research centers. — Jenina P. Ibañez
