Tamiya (Philippines) Inc., a unit of Japan’s Tamiya Group, inaugurated a new P2-billion facility at the Cebu Light Industrial Park Special Economic Zone (CLIP).
Philippine Economic Zone Authority (PEZA) director-general Tereso Panga said Tamiya’s big ticket investment would help boost the country’s economic growth amid a general observation of slower entry of foreign direct investments (FDIs).
“This is also proof the PEZA is going against that trend, and is in fact experiencing an uptick in ecozone FDI inflows and exports. Tamiya’s expansion is a strong testament to its continuing trust and confidence in the Philippines, and to the great skills and attitude of the Filipino workforce,” he said.
Tamiya’s expansion represents the continued commitment of Japanese companies to the Philippines as their best bet for operations, he said.
Tamiya president and chairman Shunsaku Tamiya recognized PEZA as one of its most supportive partners in the government, which is critical to their continuous expansion in the Philippines.
A long-time locator of PEZA since 1994, Tamiya manufactures precise plastic vehicle models such as plastic stationary, four-wheel vehicles, solar radio-controlled vehicles and solar powered and helicopter models at the Mactan Economic Zone.
The company’s first factory in the Philippines in Mactan is a 40,000-square-meter facility with 1,200 workers engaged in model assembly.
Tamiya expanded to CLIP after 29 years of successful operations in the Philippines.
Its models are patronized by hobbyists all over the globe for their exceptional quality and scale accuracy. The company also received numerous awards for their products including the prestigious Model of the Year award from Germany’s ModellFan.
The Philippines is at the center of Tamiya’s operations, as the sole Asian manufacturing hub outside Japan. The company also operates from California in the US and Germany in Europe.
PEZA said that as of May 2023, 877 Japanese locators in economic zones contributed a total of P766.5 billion investments and $6.4 billion in exports.