The Board of Investments encouraged Taiwanese companies to expand their business portfolio by investing in the Philippines.
Trade Undersecretary and BOI managing head Ceferino Rodolfo said the Philippines has much to offer to Taiwanese companies.
“The Philippine economy has shown strong growth momentum, evident in our improved economic performance in 2022. Moreover, we are home to a highly skilled and innovation-ready workforce who can successfully and efficiently drive company’s operations. The Philippine government also continues to improve its business climate through game-changing laws, such as CREATE Act, to make it easier to do business in the country,” he said.
Rodolfo said strong investment sentiments are coming from Japan, South Korea and Taiwan. As the world shifts to green solutions and finding more sustainable sources of energy, these economies see the Philippines as the best location to host their renewable energy projects, he said.
“We are near the equator which is ideal for solar projects; our many islands are the perfect destination for offshore wind and tidal energy projects. We also have an abundance of green minerals such as nickel, cobalt, and copper, which are key to going into cleaner energy applications such as renewable energy, electric vehicles, and battery technologies,” he said.