THE Philippine Economic Zone Authority (PEZA) said investors from China, Taiwan, and Hong Kong are expected to be among the top sources of foreign direct investment (FDI) this year.
“PEZA counts the Chinese investors, including those from Taiwan and Hong Kong, among our best bets for FDI attraction for this year and for succeeding years to come,” PEZA Director General Tereso O. Panga said in a statement Monday.
“With the Philippines as the new ‘plus one’ destination for China-based manufacturers wanting to export to the US and EU, our partners will play a major role in our quest to actively engage Chinese enterprises and to promote the Philippines’ competitive edge as the emerging investment hub in the region,” he added.
PEZA has signed a memorandum of understanding (MoU) with Aoxing Group Chairman Zhao Wenfa for investment promotion.
The MoU is expected to “lay the groundwork for closer collaboration with Chinese enterprises seeking resilient, dual-base production and supply chain models in the region.”
Mr. Wenfa, who is also the president of the International Chamber of Commerce, said that it is important to leverage “localized operations as a foundation for sustainable economic collaboration.”
He also serves as chief executive officer of Dongguan Aoxing Audio Visual Equipment Co., Ltd., an original equipment manufacturer based in Dongguan.
The company manufactures projector equipment, projector screens, and audiovisual products for brands such as HP, Epson, and Skyworth.
“With extensive experience and a strong global market presence, Mr. Zhao has led the company in exporting audiovisual equipment to markets across America, Europe, Asia, and the Middle East,” PEZA said. — Justine Irish D. Tabile
