The Department of Trade and Industry said Tuesday it expects at least P450 billion in investment leads from 250 companies that are interested to expand operations or set up new businesses in the Philippines.
Trade Secretary Ramon Lopez said the agency is optimistic about securing the deals, many of which were delayed amid the pandemic.
“Some of them were just postponed investments, due to Delta and Omicron surge and their inability to visit the sites because of travel and quarantine restrictions before,” Lopez said Tuesday.
A list provided by the DTI showed that among the electronics companies with plans for investments are Minebea Electronics Motor of Malaysia, Amphenol Advanced Sensors of the US, Positronics of India, Foxconn of Taiwan, nickel zinc battery manufacturer ZAG BGM, Ningbo Lygend Mining Ltd. and electronic bike manufacturer NWOW of China.
Other interested electronic companies are three Taiwanese manufacturers of telecom equipment and optical sensors, an automotive parts company, two Japanese firms involved in wiring harness production, Brother Philippines and Toyota Motor Philippines.