MANILA, Philippines - About 20 Japanese electronics companies in China have expressed keen interest in relocating their operations here in the Philippines next year, given mainly the quality of Filipino talent pool.
“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,” bared Francisco Ferrer, Philippine Exporters Confederation Inc. (Philexport) trustee representing the electronics sector.
Ferrer said 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 here 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 noted.
Ferrer further 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.
Each company is expected to invest $20 million to $100 million, he said.
Ferrer added these new investments can generate 25,000 new jobs next year.
He said most of these Japanese companies want to relocate in Laguna, Batangas and Cavite where support industries are located.