President Marcos Jr. yesterday invited technology startups and other industry players to consider the Philippines as an investment destination, citing the availability of talents as well as infrastructure in the country.
“If you are an entrepreneur, a startup, an industry leader wondering where to place your next big bet, look no further. We have the talent, certainly the determination, and now, the infrastructure to make your boldest ideas a reality,” the President said at the inauguration of the P7-billion StBattalion (StB) Giga Factory in New Clark City.
The StB Giga Factory is the first manufacturing plant for lithium-ion phosphate batteries in the Philippines and a fulfillment of a commitment for investment and development made during the Philippines Business Forum in Australia in March this year.
Marcos said the factory, funded by StB Capital Partners based in Brisbane, is part of government’s national agenda of promoting clean energy.
He said the investment also sets the stage for the Philippines to become a key player in clean energy storage in Southeast Asia, even as he reiterated the administration’s commitment to promote clean energy through private-public sector partnerships.
The President said the investment is also an indication of the country’s readiness to innovate, lead, and become the go-to destination for high-tech and high-impact investments.
The facility is expected to generate P5 billion in income annually and will create jobs for at least 2,500 once it fully operates starting this month.
“These are not just regular jobs, these are very important high-tech jobs, quality jobs… from engineers and technicians to administrative personnel,” Marcos said.
StB Giga aims to produce two gigawatt-hours (GWh) of batteries annually by 2030 which is projected to support around 18,000 electric vehicles (EVs) or nearly half a million home battery systems.
In addition to battery production, StB Giga plans to expand into the EV market.
