Japanese firm P.Imes Corp. is expanding its manufacturing operations in the Philippines by investing an additional PHP1.8 billion.
The expansion project aims to hike production capacity of its medical equipment suspension assembly in its facility at the Cavite Economic Zone, the Philippine Economic Zone Authority (PEZA) said.
Last Feb. 13, PEZA Director General Tereso Panga and P.Imes president Tetsuya Matsusaki signed a registration agreement for its expansion project.
“The expansion project is expected to generate more than 200 jobs,” PEZA said, adding that the operations will start this month.
Aside from the expansion of its manufacturing operations, the Japanese firm will also collaborate with universities to equip future talents with advanced expertise in prototyping that will promote innovation in the manufacturing sector.
As of December 2024, P.Imes has invested PHP3 billion in the country.
Japan has remained the top foreign investor in PEZA, with 800 registered businesses bringing in a total investment of PHP500 billion, creating 300,000 jobs for Filipinos and contributing USD15 billion in exports in 2024. (PNA)
