By Catherine N. Pillas
THE Philippine Economic Zone Authority (Peza) said there is a growing interest among Taiwanese firms of investing in the country.
Peza cited the increasing investment of New Kinpo Group of Taiwan that has to date reached P2.5 billion, with the latest infusion of P1.8 billion by its subsidiary Kinpo Electronics.
In an interview with reporters, Peza Director General Lilia B. de Lima said the Taiwanese firm involved in electronic-manufacturing services inaugurated its new facility in Lima Technology Center on Wednesday.
“This is the most significant Taiwanese investment recently,” de Lima noted.
Kinpo Electronics’s P1.8-billion investment is the most recent investment of the New Kinpo Group in the country. The group spent P670 million in 2012 through its other subsidiaries AcBel Polytech Inc. and Cal-Comp Electronics and Communications Co.
AcBel Polytech Inc. makes LED lighting and smart grid solutions, while Cal-Comp produces handsets, printers and LCD TVs. Both firms operate plants located in Carmelray Industrial Park in Calamba, Laguna.
With the recent venture, New Kinpo Group’s work force is expected to grow to 3,801 employees.
The company’s EMS business spans multiple product lines, including storage, printers, network-attached storage, wireless and broadband, digital home, consumer electronics, wearables, 3D printing, robotics, power management and smart grid, industrial, automotive, security, medical/health care and emerging technologies.
Peza is eyeing to draw in more Taiwanese investments to the Philippines, de Lima said.
“We’re going to Taiwan next week for a seminar, and we want to talk to the big companies,” de Lima said at the sidelines of the India-Philippines Partners in Progress Forum, but declined to name the firms.
In 2014 foreign investments poured in by Taiwanese companies amounted to P2.9 billion.
In the third quarter of 2015, investments by Taiwan companies were at P946 million, a 138-percent improvement over the same period from 2014.