American smartphone and computer parts manufacturer Ever Win International Corp. transferred its operations to the Philippines from China where the cost of doing business increased rapidly in recent years.
Two more US electronic firms would soon join Ever Win while finalizing their strategies to operate in the Philippines, according to DTI Export Marketing Bureau director Senen Perlada.
Perlada, who returned from a mission to Silicon Valley in the US, said a number of American companies were rethinking their investments in China and that most of them were looking at the Philippines as an investment location.
He said the other two electronics firms were into artificial intelligence and integrated chips manufacturing.
“The US-China trade war is immaterial to the decisions of these companies to move out of China. It’s more of sustainability and stability issues since China is fast becoming expensive,” Perlada said at the launching of Global MSME Academy at the Philippine Trade Training Center in Pasay City.
Ever Win already registered with the Philippine Economic Zone Authority to avail of existing tax incentives.
The company manufactures and exports smartphone and computer parts to different parts of the world and carries various global and regional brands.
Perlada said barely months of operating in the Philippines, the company was already looking for other economic zones in the country as the new site of another facility that it might transfer out of China.
Ever Win maintains a business model where it entices suppliers to follow where they operate.
The company is slowly shutting down their facilities in China but not all may be relocated to the Philippines, officials said. It plans to set up new facilities in different host countries to spread out risks.
Meanwhile, the Global MSME Academy will help MSMEs develop and upgrade their capabilities to become more innovative and competitive for both local and foreign markets.