American-Taiwanese luggage manufacturer PLG Prime Global Co. is exploring the Philippines for its next factory, the Philippine Economic Zone Authority (PEZA) said Tuesday.
PEZA Director General Tereso Panga met with representatives of PLG Prime, accompanied by Manila Economic and Cultural Office Board of Director Wilson Tecson and PEZA investment promotion partner Jayson Sze on April 16, the agency said in a news release Tuesday.
PEZA said PLG Prime presented to Panga its plan to build a manufacturing facility in Hermosa, Bataan.
“When you’ve got American, Chinese, Taiwanese, and even Vietnamese manufacturers knocking on your door, you know something’s shifting, and it’s shifting towards our direction. The Philippines is back in the conversation,” the PEZA chief said.
Panga, on the other hand, discussed the Philippines’ Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act, which can benefit the company shall it locate its next project here.
The tax incentives law makes the Philippines more globally competitive and investment-friendly.
Panga also highlighted that the Philippines is becoming a smart investment destination in Southeast Asia given the emerging China+2 strategy — China and Vietnam plus another member state of the Association of Southeast Asian Nations.
PLG Prime has manufacturing facilities in Taiwan, China, and the United States. (PNA)