Taiwanese investors set new Subic plan

SUBIC BAY FREEPORT – Subic Bay Metropolitan Authority (SBMA) said Taiwanese businessmen are expected to invest up to $5 million here in the next three years.

SBMA Administrator Ar­mand Arreza said that officials of the Export Processing Zone Administration (EPZA) of Taiwan have vowed to put up investment projects in the Subic Bay Freeport during the recent visit of the businessmen here.

Arreza said the businessmen, led by Director General Tseng Sheng Bao of the Taiwan Export Processing Zone Administration (EPZA) and Daniel Y.S. Su, president of Gongin Precision Industrial Co. Ltd., said they will invest $5 million in the next three years.

He said the projects will include the establishment of a purchasing and customer service office to cover core operations including high precision plating, surface treatment, high precision stamping, and injection forming mold for clients in the aerospace, opto-electronics, automation and semiconductor industries.

Gongin, a major player in Taiwan’s machinery and equipment industry, plans to set up a 6,000-square meter  factory and hire from 30 to 50 local skilled machinists and mechanical engineers.

The company’s proposed investment project in the country will mirror its facilities in Suzhou and Shanghai, both in China, where it has set up two subsidiaries.

Tseng said his group was impressed with the industrial development in Subic today. 

Tseng was accompanied in the Subic visit by his deputy Jerry K.H. Chen, EPZA Taiwan senior specialist Shih-Tsung Chi, and EPZA officer Charlotte Hsueh. 

Representatives from Taiwan enterprises, meanwhile, included Su, Gongin assistant general manager Senog Hsueh, special assistants Victor Chen and Jih Tai Chu, Emtal Industries Research Development Center chairman Tsai Chien-Hsing, and his assistant Chen Tsung-Bao.