MANUFACTURERS in the Samsung Group supplier ecosystem are hoping to expand in step with Samsung Electro-Mechanics Philippines Corp. (SEMPHIL), the Philippine Economic Zone Authority (PEZA) said.
“The participating firms — many of which serve as tier-one and tier-two suppliers of Samsung Electro-Mechanics — expressed strong interest in expanding within PEZA’s network of ecozones across the country,” PEZA said in a statement on Monday.
The statement was issued following a roundtable discussion attended by PEZA, the Office of the Special Assistant to the President for Investment and Economic Affairs (OSAPIEA), and 16 South Korean manufacturing and technology firms.
“The supportive business environment and talented Filipino workforce make the country an excellent place for long-term growth,” SEMPHIL President Kyeongwoo Ryu was quoted as saying.
SEMPHIL’s PEZA-registered facility in Laguna, accounts for nearly half of SEMCO’s worldwide multilayer ceramic capacitor (MLCC) output.
PEZA Director-General Tereso O. Panga said the Philippines and South Korea both hope to “build globally competitive, sustainable, and technology-driven industrial ecosystems where Korean innovation and Filipino talent can thrive together.”
Secretary Frederick D. Go, who heads the OSAPIEA, said the government is looking to facilitate further investment partnerships with South Korea.
“The Philippines welcomes our Korean partners in building an ecosystem of advanced manufacturing alongside industry leaders like Samsung — fostering greater operational efficiencies, reducing costs, and strengthening regional competitiveness,” Mr. Go was quoted as saying.
“Like Samsung, you too can benefit from CREATE MORE’s (Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy) enhanced incentives that will empower your businesses to expand, innovate, and achieve sustained growth in the Philippines,” he added.
SEMPHIL recently announced that it is investing P50.7 billion to establish a manufacturing facility for MLCCs which is due to begin commercial operations by 2027.
As of the end of October, PEZA approved P175.37 billion worth of investments from new and expansion projects. — Beatriz Marie D. Cruz