2 Japanese firms to invest in Phl

MANILA, Philippines - Two Japanese firms known for their printer brands announced they are investing in the Philippines with one of the investments reaching P20 billion.

In an interview, Philippine Economic Zone Authority (PEZA) Director General Lilia de Lima said that Japan-based firm Brother Industries Ltd. will put up a manufacturing facility for its printing business in Batangas. The facility, which will be constructed in the first quarter of 2012, will manufacture and export parts for inkjet printers. The project cost for Brother’s new facility in the country is still unknown but De Lima said it will be lower than the P20 billion being invested by the other Japanese firm.

The Brother group has manufacturing facilities for its printing business in Japan, China, Malaysia and Vietnam.

The other firm, De Lima said will invest P20 billion for its 20-hectare manufacturing plant. She said she cannot reveal yet the name of the Japanese firm but the plant will also be in Batangas. Approximately 4,000 employees will be hired in the first year of the firm’s commercial operations. De Lima said this firm is currently engaged into trading and distribution of printers in the Philippines.

Earlier, PEZA announced they are looking at a 12-percent increase in investments after posting P288.34 billion last year.

De Lima said that PEZA investments in 2011 went up by 41 percent from the 2010 figures.

For this year, De Lima expects a better investment figures. The fighting target for PEZA, according to De Lima is 12-12-12 or a 12-percent growth in investments, 12-percent growth in employment and 12-percent growth in exports.

De Lima said prospects for this year is good especially in the areas of manufacturing and information technology. The targets of PEZA is in line with the expectations of the Department of Trade and Industry (DTI).