Two Japanese manufacturers are considering the Philippines as their next location for their business operations, the Philippine Economic Zone Authority (PEZA) said.
In a statement Thursday, PEZA said Kawamura Electric, Inc. and FRP Services & Company Japan expressed their interest to explore investments in ecozones during Director General Tereso Panga’s visit to Tokyo from March 3 to 6.
PEZA said Kawamura is eyeing to expand in the Philippines as part of its regional strategy of strengthening its presence in Southeast Asia.
The company said the country is a strategic partner in ASEAN, with its positive trade ties with the United States, which is seen as an advantage for export manufacturing.
Kawamura has been operating for over 50 years, producing electrical equipment such as high-voltage power installations, switchboards, and circuit breakers.
It has the largest market share for electrical enclosures used in information technology infrastructure and data centers in Japan.
The Japanese firm also has seven factories and sales offices in China, Thailand, Vietnam, and Singapore.
Meanwhile, FRP Services aims to collaborate with local companies as it targets to locate at the TECO Industrial Park-Special Economic Zone to cater to the requirements of its big client locator firm in the Cavite Economic Zone (CEZ), particularly for fiberglass-reinforced particle boards.
“We are targeting the new investors from Japan to look at the Philippines as their next investment destination. In the same manner, we are enticing current Japanese companies in expanding their solid footprint in the country by bringing in their supply chain. The Philippines is in the sweet spot to host these investments with all the positive advantages we presented,” Panga said. (PNA)
