Manila Standard Today
3 Taiwan firms set to invest $250m
Three Taiwanese companies plan to invest at least $250 million to build a software park in Clark Freeport in Pampanga province, the government’s trade promotion agency in Taipei disclosed over the weekend.
The Manila Economic and Cultural Office said manufacturing giant Teco Electric and Machinery Company Ltd. teamed up with property developers Farglory Group and Fubon Land Development Company Ltd. to firm up their investment plans in Clark.
Farglory is considered one of the largest property developers in Taiwan while Fubon Land is a subsidiary of Fubon Financial Holding Company Ltd., the second biggest financial institution in Taipei.
Meco chairman Amadeo Perez said the three groups planned to build a software park in Clark, similar to the one built by Teco in Taipei. “This is just a little lower than the cost of making the Nangang Software Park in Taipei wherein Teco Electronics is a major partner,” Perez said.
The proposed software park in Clark will cover an initial 15 hectares that will employ a maximum of 21,000 people, he said. A project brief showed the potential of the project to generate at least $10 billion from rent, revenue of locators and contribution of allied services.
“This is smaller and conservative, taking to their operation in Nangang Software Park,” Perez said.
Perez said the proposed software park would initially house an electronics part manufacturing company that would be owned and operated by Teco Electronics and an electronic vehicle manufacturing company that would support the country’s migration into e-vehicle transportation platform.
“The investments may be more. I learned that what they will be spending is only minimum investment,” said Perez.
Perez said not many Taiwanese companies put in investments in the Philippines in the past, but “lately the number of queries are going up.”
The Trade Department recently launched a trade mission to Taiwan wherein most companies that attended had expressed interest in electric vehicle production and renewable energy opportunities.
The agency said among the investment opportunities for Taiwanese investors were LED module packaging assembly, printer and related equipment, automotive manufacturing (including electronic auto parts), shipbuilding and yacht-building, agribusiness and aquaculture, and information and communication technology.