Two major Japanese companies in the Philippines announced plans to expand their operations in economic zones, according to the Philippine Economic Zone Authority (PEZA).
PEZA director-general Tereso Panga identified the two companies as SIIX Co. Ltd. and FCC Co. Ltd. during a forum organized by Sumitomo Mitsui Banking Corp. (SMBC) and Rizal Commercial Banking Corp.
Panga said SIIX Co., Ltd., a leading global electronics manufacturing services (EMS) provider, would expand its core business and enter new markets. The company would manufacture its patented conductive ink in the Philippines, Panga said.
Meanwhile, FCC, another participant in investment roadshow, expects significant growth in its Philippine operations over the next few years.
The company plans to manufacture clutches for Honda Click 125 motorcycles in the Philippines. It is also looking at manufacturing paper ceramics for other electronics component manufacturers and investing in new advanced technology businesses involving scooter assembly lines, lining molding lines and weight lines.
FCC is also exploring incorporating new ventures such as promoting a circular economy in the Philippines through the use of solid oxide fuel cells (SOFC) for water filtration and solid biomass fuel production.
FCC is a dominant player in the global motorcycle clutch market.
SMBC and RCBC organized the mission following the signing of memorandum of agreement among PEZA, SMBC and RCBC.
The investment seminar briefed Japanese corporate clients about investment opportunities in the Philippines, particularly within economic zones.
Japan is PEZA’s largest investor, accounting for 28 percent of total investments or about P798 billion, $16.3 billion in exports and 342,845 in direct jobs created across 877 PEZA-registered business enterprises (RBEs).