Discouraged in China, Taiwan firms are attracted to Subic
Taiwan is pushing for more investment incentives for its companies locating in the Philippines as Taipei and Manila continue their work in establishing a Subic-Kaohsiung economic corridor.
Minister of Economic Affairs Steve Chen said during a visit last week that Taiwanese investors were particularly hopeful of a better business climate at the Subic Bay Freeport Zone northwest of Manila and the Clark Special Economic Zone north of the capital.
“Many Taiwanese firms are increasingly getting discouraged with the deteriorating investment conditions in China and are looking for alternative destinations,” Chen told reporters.
He said Subic and Clark were “excellent locations” in terms of geography and availability of facilities.
However, he said, Taiwanese investors wanted a more favorable environment, including additional incentives.
“Some examples under discussions are ensuring sufficient supply of power and water, with much more stable prices; ensuring production cost could be maintained at a much lower level; providing market potential for Taiwanese investors, not only in the Philippines but throughout Southeast Asia,” Chen said.
Officials from Taipei are cooperating closely with their counterparts in Manila to ensure that the Subic-Kaohsiung corridor will get to provide more incentives to Taiwanese investors, he added.
The Philippines and Taiwan signed a memorandum of understanding in December 2005 to establish the growth corridor that would link the industrial enclaves and free ports of Subic and Kaohsiung in southern Taiwan.
In previous visits, Taipei officials said Taiwanese investors wanted some form of assurance on access to the Philippine market. They also sought easier application processes for Kaohsiung locators that would want to invest in Subic, and a smooth flow of workers and corporate officials between the zones.
Chen was in the Philippines for an economic conference held last Friday.
Minister of Economic Affairs Steve Chen said during a visit last week that Taiwanese investors were particularly hopeful of a better business climate at the Subic Bay Freeport Zone northwest of Manila and the Clark Special Economic Zone north of the capital.
“Many Taiwanese firms are increasingly getting discouraged with the deteriorating investment conditions in China and are looking for alternative destinations,” Chen told reporters.
He said Subic and Clark were “excellent locations” in terms of geography and availability of facilities.
However, he said, Taiwanese investors wanted a more favorable environment, including additional incentives.
“Some examples under discussions are ensuring sufficient supply of power and water, with much more stable prices; ensuring production cost could be maintained at a much lower level; providing market potential for Taiwanese investors, not only in the Philippines but throughout Southeast Asia,” Chen said.
Officials from Taipei are cooperating closely with their counterparts in Manila to ensure that the Subic-Kaohsiung corridor will get to provide more incentives to Taiwanese investors, he added.
The Philippines and Taiwan signed a memorandum of understanding in December 2005 to establish the growth corridor that would link the industrial enclaves and free ports of Subic and Kaohsiung in southern Taiwan.
In previous visits, Taipei officials said Taiwanese investors wanted some form of assurance on access to the Philippine market. They also sought easier application processes for Kaohsiung locators that would want to invest in Subic, and a smooth flow of workers and corporate officials between the zones.
Chen was in the Philippines for an economic conference held last Friday.
By Ronnel Domingo - Inquirer
With INQUIRER.net
posted by OlongapoCity Zambales at
1:57 PM
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