A motorcycle company is eyeing the Philippines as its hub of manufacturing operations in the region while a US-UK firm will kickstart the planned cooper integrated processing in the Philippines.
Ceferino Rodolfo, managing head of the Board of Investments (BOI) in his remarks at the Arangkada Forum yesterday revealed the plans of the unidentified motorcycle firm to close two of its plants in Asean and consolidate its operations for the manufacture of engines and assembly of motorcycles in the Philippines.
Rodolfo said the move would help narrow the trade deficit of the Philippines as motorcycles are the third largest contributor to that gap.
Rodolfo said the company has assessed the Philippines to be the fastest growing market for its motorcycles and is encouraged by the incentive granting it access to the domestic market.
Meanwhile, Rodolfo said the US-UK company registered in Australia will bring to the Philippines a patented technology in copper processing for value-added products from copper coming from the smelting plant of the Philippine Associated Smelting Corp.
Rodolfo said this investment comes as the BOI will launch this month the Leyte Ecological Industrial Zone as a hub for the manufacture of copper and copper-based components. The aim is to attract investments in the production of components for electric vehicles. – Irma Isip