The Philippine Economic Zone Authority (PEZA) highlighted the importance of the dies and molds industry in manufacturing as it represents a significant link in the entire production chain.
Tereso Panga, director-general of PEZA noted this in his speech at the opening of the Philippine Die & Mold Machineries & Equipment Exhibition (PDMEX) on August 23 at the World Trade Center.
Nearly all mass-produced discrete parts are formed using processes that employ dies and molds.
Ecozone locators, particularly those in the semiconductor-electronics, automotive, and aerospace sectors benefit from the integration of local die and mold companies into the ecozone value chain.
“Your industry is critical as it is considered a backbone of not only the small and medium enterprises) but an essential pillar in industrial development,” said Panga in noting the contribution of the industry to the growth of the domestic and export manufacturing in the country.
PEZA has registered a total of 285 projects engaged in the die and mold activity that have generated as of June 2023 about P23.49 billion in cumulative investments and created 35,487 direct jobs for our Filipino workers.
Panga said to promote the competitiveness of the Philippine die and mold industry, the Philippines has collaborated with the Korean government which provided a $ 6.3 million-dollar grant for on the establishment of the Mold and Die Technology Support Center (MTSC) at Cavite Economic Zone.
MTSC will train thousands of Filipino workers on CNC machining, precision tooling, mold designing, and production of various dies and molds.
“Through our program, we can help grow the metals, plastics and engineering sectors that serve the requirements of downstream manufacturing companies as well as the local and export core-manufacturing industry,” Panga said.
