THE Manila Economic and Cultural Office (Meco) in Taipei is currently in pursuit of at least $121 million in fresh Taiwanese investments to be poured into the Philippine manufacturing, construction, agri-business and energy sectors.

Antonio Basilio, Meco resident representative, said Clark and Subic, for instance, are eyeing $24 million worth of investments from Taiwanese firms engaged in the production of aluminum coil, piping and stainless steel; antibiotic capsules; electric blankets; and light industries.

Taiwanese companies are also looking at construction projects for the buildup of facilities in Clark and Subic.

“Meco is also chasing $97 million worth of investment leads for Northern Mindanao’s growing biofuel, solar and wind energy, mari-culture, food processing, auto-parts manufacturing, leather production and steel manufacturing sectors,” Basilio said in a statement.

Meco, Basilio said, has lined up several investment and trade missions to acquaint Taiwanese businessmen with the various opportunities in different parts of the Philippines.

This includes the Taipei Investments Summit to be attended by representatives of the Cagayan Electric Power and Light Co., the Philippine Congressional Commission on Science and Technology and Engineering, and the Taiwan External Trade Council.

An investment mission to Mindanao , specifically to General Santos and Sarangani, will also be conducted in early December.

Meanwhile, a Food Diagnostics Mission organized by Meco from October 19 to 24 was also expected to benefit six small- and medium-sized food cooperatives that specialize in coffee, processed fruits, and wines and spirits production. 

The cooperatives are based in the provinces of Cavite, Cagayan de Oro, Misamis Oriental and Misamis Occidental.

Meco’s extension offices in Taichung and Kaohsiung also launched missions to attract Taiwanese investments.

The Taichung team, based in central Taiwan, facilitated fact-finding trips of Long Dianne Biotechnology to Palawan for the possible cultivation of red grouper, and Hwa Neng Biotechnology which is exploring the possibility of investing in nurseries for jatropha curcas—a plant believed to be a significant source of renewable fuel—and castor bean plants.

Meco’s team in the southern port city of Kaohsiung also set the groundwork for a city-to-city sisterhood between Pingtung City and Lucena City, and fortified the relationship between the Kaohsiung County Chamber of Commerce and the Cebu Chamber of Commerce. Delegations from Lucena and Cebu will fly to Taiwan this month to finalize the agreements.

Meco Kaohsiung also facilita-ted fact-finding trips of various research institutes and industry associations to the Philippines, including the Asian Vegetable Research and Development Center, Fengshan Tropical Horticulture Station, Pingtung Fish Breeding Association, Tainan Orchid Plantation and a number of aquaculture companies.