The Philippine Economic Zone Authority is inviting Taiwanese electronics contract manufacturing company Foxconn Technology Group to set up operations in the Philippines.
“We will try to convince them [Foxconn] to, again, consider the Philippines as a second site for its operations in Asia,” Peza director-general Lilia De Lima said over the weekend.
De Lima will visit Taiwan this week to promote the Philippines as an attractive destination for manufacturers and investors.
Headquartered in Tucheng, New Taipei, Foxconn is the world’s largest electronics contractor manufacturer and the third largest information technology company. It supplies electronic parts to Samsung, Ipad and Blackberry.
Foxcoon earlier expressed interest to locate in the Philippines, partly to declog production in China and partly to spread risks. It is also the largest private employer in China.
Analysts said once the company decided to transfer some of its manufacturing functions to the country, the Philippine electronic sector would have more reason to see renewed growth.
Foxconn designs original concepts for clients such as Blackberry, Ipad, Kindle, Playstation, IPhone, Xbox one and Wii.
Investment opportunities in the Philippines for Taiwan include LED module packaging assembly, printer and related equipment, automotive manufacturing (including electronic auto parts), shipbuilding and yacht-building, agribusiness and aquaculture and information and communication technology.
A top official of the Taiwan External Trade and Development Council said many Taiwanese companies had called the agency to ask for investment opportunities.
About 90 percent of Taiwanese manufacturers are present in China, while 10 percent are still in Taiwan.
Taitra said that in recent years Japanese, Korean and Taiwanese companies started leaving China due to labor problems that affected the profitability of these companies.
The Taiwanese agency continues to woo big, world-class Taiwanese firms including Foxconn and Pou Chen to set up manufacturing operations in the Philippines.