The Philippine Economic Zone Authority (PEZA) said Monday it approved the registration of Kaneko Medical Philippine Inc. on June 26, 2024.
It said the registration paves the way for the Japanese firm to start the manufacturing of microcatheters at the First Philippine Industrial Park–Special Economic Zone (FPIP-SEZ) in Batangas province
The agreement is a significant step forward in the country’s industrial and economic growth, particularly in the medical instruments manufacturing industry,” said PEZA deputy director-general Vivian Santos.
Santos said the inclusion of Kaneko Medical Philippine Inc. as one of the locator companies in FPIP-SEZ “emphasizes our commitment to attracting high-tech manufacturing investments and fostering a conducive environment for technological advancement.”
Microcatheters, which are essential in various medical procedures, represent a sophisticated and critical segment of the medical device industry.
The manufacturing plant in the FPIP-SEZ is expected to significantly contribute to the global supply chain, PEZA said.
Kaneko’s investment is one of the pledges secured by PEZA through an investment mission to Tokyo in September 2023.