MANILA — Sixteen companies from Taiwan recently visited the Philippines in search of business opportunities, the Board of Investments (BOI) revealed in a statement Thursday.
Industrial Group of Taiwan Head of Delegation Mark Ho led the visit of Taiwanese firms here last week.
They were reportedly interested in possible investments in the sectors of logistics, shipping, manufacturing, agro-processing, machinery, real estate, oil, and electronics.
The delegation met with BOI Director for International Investment Promotion Service Angelica Cayas, who presented investment opportunities listed in the agency’s Investment Priorities Plan (IPP) and processes in doing business in the country.
Data from the Department of Trade and Industry (DTI) showed that Taiwan is the second largest source of investment pledges in BOI and Philippine Economic Zone Authority (PEZA) in 2017 amounting to PHP10.41 billion.
In the first quarter of 2018 alone, Taiwanese investment commitments in BOI and PEZA surged 324 percent to around PHP310 million from PHP70 million in the same period last year. PNA-northboundasia.com