By Kris Crismundo, PNA, 21 May 2020
MANILA – Trade Undersecretary Ceferino Rodolfo said seven foreign companies with businesses in China have diversified their operations in the Philippines.
These companies registered their projects with investment promotion agencies (IPAs) attached with the Department of Trade and Industry (DTI), the Board of Investments (BOI), and the Philippine Economic Zone Authority (PEZA) from 2018 to February 2020.
Their investments reached PHP1.6 billion, said Rodolfo, who is also the managing head of BOI.
Dutch company Head Group has the biggest investments amounting to PHP1.12 billion for manufacturing of tennis balls.
Five companies are from Taiwan with combined investments of PHP444.63 million. Their projects involve manufacturing and exporting marine accessories, internet accessories, parts and equipment, audio appliances, health products and luggage.
American firm Ever Win International Corp. invested PHP21.4 million for manufacturing of consumer electronics.
Rodolfo said the Philippines positions itself as a complementary host country for investments of companies that have operations in China, particularly in the manufacturing industry.
Many multinational companies with businesses in China are eyeing to diversify their investments outside the East Asian country.
The trade official added these firms are relocating and diversifying outside China even before the coronavirus disease 2019 (Covid-19) pandemic due to the trade tension between China and the United States. (PNA)
March –
IT’S WOMEN’S MONTH!
“Respect and support women
every day of the year/s!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the recommendations of the 2021 ILO Commission of Inquiry
against serious violations of protocols of
Forced Labour and Freedom of Association.
Accept the National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands
#Report Corruption #SearchPosts #TakePicturesVideos
Monthly Observances:
Women’s Role in History Month
Weekly Observances:
Week 1: Environmental Week;
Women’s Week
Week 3: Philippine Industry and “
Made-in-the-Philippines Products Week
Last Week: Protection and Gender-Fair Treatment
of the Girl Child Week
Daily Observances:
March 8: Women’s Rights and
International Peace Day;
National Women’s Day
March 4: Employee Appreciation Day
March 15: World Consumer Rights Day
March 18: Global Recycling Day
March 21: International Day for the Elimination
of Racial Discrimination
March 23: International Day for the Right to the Truth
Concerning Gross Human Rights Violations
and for the Dignity of Victims
March 25: International Day of Remembrance of the
Victims of Slavery and the Transatlantic Slave Trade
March 27: Earth Hour
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