MANILA — Japanese electronics firm, Murata Manufacturing, plans to invest PHP40 billion to expand its operations in the country, Philippine Economic Zone Authority (PEZA) Director General Charito Plaza said Monday.
Plaza said Murata targets to construct new manufacturing buildings to produce new products and were projected to create 6,000 more jobs.
But she noted the Japanese firm is still waiting for the clear rules on tax perks, as the government is rationalizing the fiscal incentives it provided to businesses.
“[T]hey’re holding to it until they’ll know the fate of TRAIN 2 (Tax Reform for Acceleration and Inclusion Package 2),” the PEZA chief said.
“They’re occupying 24 hectares with two manufacturing buildings. They’ll expand to two more once incentives remain the same or an attractive TRAIN 2 incentives will be passed,” Plaza added.
According to PEZA, Murata ‘s1operations in the country involve manufacturing of chip monolithic ceramic capacitors with annual sales of PHP5.65 billion.
It currently employs 2,984 personnel in its facilities in Laguna Technopark in Sta.Rosa, Laguna and in First Philippine Industrial Park in Tanauan, Batangas.
It has 97 subsidiaries across the globe including 31 in Japan and 66 in other parts of the world. PNA-northboundasia.com