Olongapo SubicBay BatangGapo Newscenter

Saturday, December 10, 2005

10 Taiwanese firms to invest P1b in Subic

By Elaine Ruzul S. Ramos Manila Standard Today

Ten Taiwanese firms have committed to infuse a total of P1.02 billion investments in new and existing projects at the Taiwanese Industrial Park in Subic Bay Freeport.

“The infusion of P1.02 billion worth of expansion projects and new investments is a clear indication of the continued confidence of the Taiwanese business community to invest in the Philippines, particularly through the Taiwanese Industrial Park here,” Subic Bay Metropolitan Authority chairman Feliciano Salonga said in a statement.

The Taiwanese investors made their commitments after they signed sub-lease agreements with the Subic Bay Development and Management Corp. (SBDMC) during the recent visit of Taiwan’s Economic Affairs Prime Minister Mei-Yueh.

The sub-lease agreements pave the way for the establishment of five new firms inside the Subic Bay Industrial Park (SBIP) and the infusion of additional investments into five projects.

The five new companies, which will infuse P432 million investments, expect to generate jobs for 570 skilled workers from nearby communities of Olongapo, Bataan and Zambales.

Water treatment provider Kintech Technology Co. Inc. to bring in P162 million and create employment of around 250; leading auto radiator tank producer Liankuann Enterprises Co. Ltd. to infuse some P108 million and would employ a total of 120 skilled workers.


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