Taiwanese investment to the Philippines is expected to increase significàntly this year, according to the Taiwan Economic and Cultural Office (TECO).
“The investment from Taiwan is expected to increase significantly in 2018 after the signing of Investment Promotion and Protection Agreement and the implementation of Taiwan’s “New Southbond policy,” said. TECO Representative to the Philippines Dr. Gary Dong-Huann Lin.
He said under Taiwan’s Southbound Policy, the government of Taiwan sees the Philippines as an important partner.
Taiwanese investment to the Philippines reached to P1 billion in 2017 and is expected to be doubled in 2018, he stressed.
Lin cited the New Kimpo Company from Taiwan is expected to invest P600 million this year.
Kimpo will set up its fourth new electronic plant in the Philippines and will employ at least 10,000 workers.
Taiwan and the Philippines signed last Dec. 7, 2017 the bilateral investment agreement, prompting Taiwan to pledge P10 billion investment to the Philippines.