Tuesday, December 29, 2015
20 Japanese Electronics companies currently in China are considering relocating their operations to the Philippines
According to Francisco Ferrer from Philippine Exporters Confederation Inc. (PhilExport) trustee representing the electronics sector, some 20 Japanese electronics companies currently in China have expressed interest in relocating their operations in the Philippines next year.
“There are renewed interests among the Japanese companies especially those that are located in China to transfer (their bases) from China to the Philippines or to Vietnam or Indonesia,” he said.
He went on to say that some of these companies have started relocating in the country this year and more are coming in 2016 amid higher wages in China and quality of Filipino talent pool.
“Wages are steady, our history will tell us that increases in wages here are not drastic… That is very useful if you are in manufacturing because you can plan better on your costs, how much you are going to sell your products; you can project,” he said.
Ferrer said Japanese investors also considered “ideal” the manpower stability in the Philippines.
“While they are watching the policies of the government, they do not want inconsistent policies, their ultimate requirement is still good, productive workers. (They also prefer) improved infrastructure so movement of products will be cheaper,” he added.
Investment from each company could range from $20 million to $100 million and are expected to generate 25,000 new jobs next year. Laguna, Batangas and Cavite are the preferred location for most of the companies due to infrastructure support.