AM Swiss Microtec Inc. expanded its production capacity for micro and nano chips in its facility at the Mactan Economic Zone (MEZ) to further beef up export revenues beyond $8.9 billion annually.
Philippine Economic Zone Authority (PEZA) director-general Tereso Panga cited the company’s contributions to the Philippine economy including job generation for over 300 Filipinos who are now working in the company.
“The expansion is a testament to the successful outbound missions of President Ferdinand Marcos Jr., promoting the country to global investors, particularly with increasing investments and strategic industries from Switzerland and the EU,” Panga said.
Panga was on a three-day visit at the MEZ from May 2 to 4 to help the ecozone identify challenges, assess potential economic opportunities and further improve the investment climate on Mactan Island.
PEZA also visited companies such as watch manufacturer TMX Philippines Inc., toxic wastes treatment company Pacific Mactan Renewable Environmental Systems Inc. (PMRESI), Lear Corporation, E-Safe Facilities & Management Inc., Metro Wear Inc. and Topline Properties and Development Corp.
Panga said PEZA is supportive of the plans of the locators aimed at driving potential valuable investments and create more economic opportunities not just in the province of Cebu but for the entire country.
“Under the present leadership, PEZA will be open, innovative, and above all, protective of our locators. I look forward to your sustained presence and expansion plans because these have a direct impact on generating employment for our LGUs and improving the local economy of the Philippines,” Panga said.
Lapu-Lapu City has a robust network of six economic zones housing 324 locator companies.
These companies contribute significantly to the local economy, having invested P90.675 billion and generated $2.322 billion in exports in 2023. The ecozones directly support 67,358 jobs.
