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)
July 2025
Nutrition Month
“Give us much more than P50 increase
for proper nutrition!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the 2021 ILO Commission of Inquiry recommendations
against serious violations of
Forced Labour and Freedom of Association protocols.
Accept National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands #Distancing #TakePicturesVideosturesVideos
July
3 July – International Day of Cooperatives
3 July – International Plastic Bag Free Day
5 July – World Youth Skills Day
7 July – Global Forgiveness Day
11 July – World Population Day
17 July – World Day for International Justice
28 July – World Nature Conservation Day
30 July – World Day against Trafficking in Persons
Monthly Observances:
Schools Safety Month
Nutrition Month
National Disaster Consciousness Month
Weekly Observances:
Week 2: Cultural Communities Week
Micro, Small, and Medium Enterprise
Development Week
Week 3: National Science and
Technology Week
National Disability Prevention and
Rehabilitation Week
July 1-7:
National Culture Consciousness Week
July 13-19:
Philippines Business Week
Week ending last Saturday of July:
Arbor Week
Daily Observances:
First Saturday of July:
International Cooperative Day
in the Philippines
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