Japan has the biggest number of companies operating in the Philippines’ economic zones, record from the Philippine Export Zone Authority (PEZA) showed.
According to PEZA, 30 percent or some 17 of the 59 companies operating in the Philippines’ 73 industrial and export processing zones are operated by Japanese investors mostly involved in electronics manufacturing.
This, officials said, partly explains why almost half, or $26.57 billion of the nearly $59 billion Philippine exports in 2015 were electronic products with Japan taking in the lion’s share of the exports at $12.3 billion.
More than half the 27 electronics manufacturers spread across the Philippines’ 73 industrial processing zones are either Japanese or joint ventures between a Japanese corporations and another foreign-owned one, the PEZA documents showed.
Among these companies are Ibiden Philippines, Canon Business, Epson Precision, HGST Philippines, a joint venture between a Dutch and a Japanese company; Rohn Electronics, another joint venture, this time between a Japanese company and a Singaporean manufacturer; Panasonic Precision, a joint Japanese-Dutch company; TDK Philippines, Nidec Philippines, Brother Industries, Funai Electric, First Sumideb, and Taiyo Yuden – all Japanese firms.
PEZA said five of the world’s top 20 semi-conductor and electronics sales leaders are operating in the Philippines – Samsung, Texas Instruments, NXP, Toshiba and ST.
Other industry sectors operating at the economic zones are information technology and tourism.
Other top Philippine export markets are the United States, ranking second to Japan at $9.02 billion, Hong Kong at $6.39 billion and China at 6.17 billion. (Jojo Dass)
Source: The Filipino Times