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May 29, 2017

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Philippines seeking to advance trade relations with Taiwan

TAIPEI -- The Philippines is seeking more investment from Taiwanese companies in an effort to advance bilateral trade relations, a visiting official said in Taipei Tuesday.

At a seminar on investing in the Philippines, Ponciano C. Manalo Jr., undersecretary of the Philippine Department of Trade and Industry, gave a presentation on the investment environment and business opportunities in the Southeast Asian country.

The Philippines has stable economic growth, steady export growth, an efficient revenue collection mechanism and dynamic people, he told nearly 100 representatives of some 75 Taiwanese companies who attended the seminar.

Among the advantages of investing in the Philippines, he touted robust infrastructure, a strategic location with easy access to other Asian countries, and tax benefits.

The Philippines is looking at Taiwan becoming a major regional supply chain source in industries such as electronics manufacturing, Manalo told CNA in an interview after the seminar.

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