Machine tool sector seeks perks

The die and mould industry is appealing to the Department of Trade and Industry (DTI) to classify, or at least promote, the industry as a priority investment area.

"The die and mould industry is actually a key industry because it touches on all manufacturing activity from food to steel," Jimmy Chan, president of the ASEAN Die and Moulds Association said over the weekend.

Chan could not exactly quantify how much the industry earns since it encompasses a lot of manufacturing activity.

The industry, however, Chan disclosed, needs a boost from government to be able to get the necessary transfer of technology from foreign investors or partners.

"The Philippine die and mould industry could still be considered in its infancy stage," Chan said, adding that it also "lacks adequate financing and incentives."

According to Chan the industry is actively trying to promote itself by joining international exhibits to attract investors and exchange information about the latest technology.

For the still small Philippine die and mould industry, Chan said, it manages to survive on the small orders of local companies whose orders would, otherwise, be ignored by the bigger companies.

The government is trying to prune down its investment priority areas.

The die and mould industry is a building block to manufacturing which contributes heavily to the country’s gross national product. – Marianne Go