LIPA CITY, Batangas, Philippines – President Aquino led yesterday the inauguration of Epson Precision Philippines Inc.’s new production facility in Lipa City in Batangas and thanked Japanese investors for their confidence in putting their business in the Philippines.
“It’s always been important to us that businesses operating in this country find success and expand their factories here. And in these uncertain times, I would say that it is doubly important,” the President said in his message during the inauguration of Epson’s new facility.
“So allow me to say that I am very thankful for your confidence in our country and that it is a privilege for me to be here to inaugurate this new factory with you today,” he added.
The Chief Executive noted the work ethics and skills of Filipino workers, saying that these are the biggest selling points in attracting investments in the country. He expects the Epson factory to produce high quality products as proof of the positive capabilities of the Filipino workers.
As Epson’s P4.5-billion new factory employs around 2,000 Filipinos, the President said this would substantially boost the country’s economy and change the lives of the workers and their families. These new jobs will bring them decent living, food on their tables and education for their children, he said.
The Philippine electronics industry directly employs around half a million Filipinos and this number has been steadily growing, the President said. He added that every direct hire has multiplier effects in job generation.
“We will show you and I’m sure and confident that we will indeed show you that your decision to trust in us will reap you the corresponding rewards. Government is committed to making business, or doing business, in this country that much easier. The opportunities you accord us – I am told that there is a multiplier effect of seven employees for every direct hire. So with the 2,000, which is 3,000 that you have expanded today you’re adding another 24,000 jobs to the economy,” he said.
Last year, investments in the industry reached a record $2.3 billion, according to the President, noting that from January to September this year, it accounted for half of the entire country’s exports.
The President led the activation of the factory operation and had a tour of the newly-opened Epson facility. Among those who joined the President at the event were Philippine Export Processing Zone Authority (PEZA) director general Lilia de Lima, Japanese Ambassador to the Philippines Toshinao Urabe, Epson Precision Philippines president Osamu Kosiishi, Epson Precision Philippines vice president Kazuyuki Amano and Seiko Epson Corp. President Minuro Usui.
Epson expects the new factory to significantly increase the production of 3LCD projector and inkjet printers as demand grows in its emerging markets worldwide. With the opening of the facility, the company sees its total workforce growing from 6,000 workers to 8,000.
Aside from its production facilities in Lipa City, Epson also has a production line in Cabuyao, Laguna.
Epson is a global imaging and innovation leader dedicated to exceeding the vision of customers worldwide through its compact, energy saving, high-precision technologies. The company has a product lineup ranging from printers and 3LCD projectors for enterprise and home use. It also produces sensors and micro devices.
Led by the Japan-based Seiko Epson Corp., the Epson Group comprises more than 78,000 employees in 99 companies around the world.