A Japanese manufacturer of printers and projectors plans to set up a production facility in the Philippines, lured mainly by the attractive incentive packages offered by local economic zones.
Takashi Ishigami, president of the Japanese Chamber of Commerce and Industry of the Philippines Inc. (JCCIPI), said that many Japanese manufacturers are looking at alternative places to set up shop, and the Philippines is one of the candidates.
He noted that, last year alone, several Japanese firms decided to do business in the Philippines. Among them are printer companies Canon Inc. and Brother Industries Ltd., toy manufacturer Bandai Namco Group, and electronics manufacturer Funai Electric Co. Ltd., which took over the inkjet business of Lexmark International.
According to Ishigami, the interested Japanese firm, whose line of business is similar to Canon, Brother and Epson, is considering putting up a facility at the Lima Industrial Park in Laguna.
Ishigami declined to identify the company because studies are still ongoing.
The said Japanese firm is also reportedly looking at other countries in the region like Vietnam as alternative destinations, he added.
However, Ishigami is hopeful that the Japanese company will pick the Philippines as its preferred investment destination.
According to him, he described to the printer manufacturer the various incentives that could be tapped once they put up a facility in an area covered by the Philippine Economic Zone Authority (Peza).
At present, this “big” and “famous” Japanese company does not have any existing production facility in the Philippines, nor in any other country in Southeast Asia. This means that, if the planned investment were to push through, the proposed manufacturing plant in the Philippines would be its first in this region.
Source: Amy R. Remo, Philippine Daily Inquirer, September 11th, 2013
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