Taiwan investments in RP may top $ 1.4-billion mark
With Taiwan’s total foreign reserves already at over $ 260 billion, her investments are expected to top the $ 1.4-billion total investments in the Philippines with more Taiwanese investors being encouraged by its government to invest here.
This was the projection of Filas Chen, director of economic affairs of the Taipei Economic and Cultural Office in Manila, at yesterday’s press conference for the launch of the 14th Taiwan Food & Machinery exhibition to be held here starting November 23 to 26.
"Taiwan has accumulated a total of $ 260 billion in foreign reserves over the past 10 years, a country of only 23 million people. This is definitely too much so, we are encouraging companies to invest in the Philippines," Chen.
Last year, total bilateral trade between the Philippines and Taiwan in 2005 was about $ 7 billion and Taiwanese investments here reaching about $ 1.3 billion or $ 1.4 billion Taiwan.
This makes the Taiwanese the country’s sixth biggest investor and the country’s 5th biggest trading partner. The Philippines, on the other hand, is Taiwan’s 11th biggest trading partner.
Chen said that with the signing of the Memorandum of Understanding for the RP-Taiwan Economic Cooridor linking Subic/Clark and Kaoshiung in December last year, more Taiwanese investments are expected to pour into the country.
"We hope that this will be implemented well," he said.
According to Chen, once the economic corridor has proven to be successful, then Taiwanese companies will realize that the Subic and Clark ecozones are really very suitable for investments.
The Taiwanese Food and Food Machinery exhibition is one way to forge tie-ups between Filipinos and Taiwenese businessmen.
"We are not only here to export our products but we are also exploring investment opportunities," Chen said.
There are a total of 160 Taiwanese food and food machinery producers that are going to participate in this year’s fair.
These companies are grouped into agriculture food, packaging machinery, mixed products and invention products.
Products of particular interests are the top quality champion rice that smells like a taro when cooked. The rice when auctioned in Taiwan was sold at P150,000 per kilo setting the highest record price paid for rice in history. Another product is the rare square-shaped watermelon propagated at Urlan county.
By BERNIE CAHILES–MAGKILAT - Manila Bulletin
This was the projection of Filas Chen, director of economic affairs of the Taipei Economic and Cultural Office in Manila, at yesterday’s press conference for the launch of the 14th Taiwan Food & Machinery exhibition to be held here starting November 23 to 26.
"Taiwan has accumulated a total of $ 260 billion in foreign reserves over the past 10 years, a country of only 23 million people. This is definitely too much so, we are encouraging companies to invest in the Philippines," Chen.
Last year, total bilateral trade between the Philippines and Taiwan in 2005 was about $ 7 billion and Taiwanese investments here reaching about $ 1.3 billion or $ 1.4 billion Taiwan.
This makes the Taiwanese the country’s sixth biggest investor and the country’s 5th biggest trading partner. The Philippines, on the other hand, is Taiwan’s 11th biggest trading partner.
Chen said that with the signing of the Memorandum of Understanding for the RP-Taiwan Economic Cooridor linking Subic/Clark and Kaoshiung in December last year, more Taiwanese investments are expected to pour into the country.
"We hope that this will be implemented well," he said.
According to Chen, once the economic corridor has proven to be successful, then Taiwanese companies will realize that the Subic and Clark ecozones are really very suitable for investments.
The Taiwanese Food and Food Machinery exhibition is one way to forge tie-ups between Filipinos and Taiwenese businessmen.
"We are not only here to export our products but we are also exploring investment opportunities," Chen said.
There are a total of 160 Taiwanese food and food machinery producers that are going to participate in this year’s fair.
These companies are grouped into agriculture food, packaging machinery, mixed products and invention products.
Products of particular interests are the top quality champion rice that smells like a taro when cooked. The rice when auctioned in Taiwan was sold at P150,000 per kilo setting the highest record price paid for rice in history. Another product is the rare square-shaped watermelon propagated at Urlan county.
By BERNIE CAHILES–MAGKILAT - Manila Bulletin
posted by OlongapoCity Zambales at
7:41 AM
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