The Philippine Economic Zone Authority said Monday several big-ticket investment projects are expected to register in the first quarter of 2022.
PEZA said these include the expansion projects of Yeonho Electronics Samsung Electronics of the Philippines, the P16-billion expansion of Amkor Technology Philippines and the entry of the MMG Group in manufacturing.
PEZA said its officials met with the investors together with the FCIE Investors Association and the Philippine Ecozone Business Club before the holidays.
The Taipei Economic and Cultural Office in the Philippines and the Taiwanese Business Association also met with PEZA in support of the locators and a group of new investors looking at locating in the Philippines.
“Yeonho is [looking at] expansion in production capacity. YFC is a big Taiwanese investor recently approved in Hermosa Ecozone Industrial Park,” a PEZA official said.
MMG Group, which is into the logistics space, will venture into PPE manufacturing, drug tolling and IT center development, a source source.
He said a Chinese investor was also keen on developing its own economic zone in the Philippines.
PEZA approved 215 projects in the first 10 months of 2021 with combined investments of P62.722 billion, down from P72.644 billion registered in the same period in 2020.
PEZA director-general Charito Plaza said despite the decline, PEZA exports growth would be sustained, particularly in electronics.