Lopez group to set up industrial parks in Subic, Clark, Southern Luzon area
MANILA, Philippines — The First Philippine Industrial Park Inc. (FPIP) of the Lopez group is mulling to develop industrial parks in Subic, Clark and another area in Southern Luzon, given the increasing demand from prospective locators.
Elpidio L. Ibañez, who sits at the board of directors of FPIP, explained that there has been increased demand particularly from Japanese-based companies, which would like to put up their respective facilities here in the Philippines.
Ibañez attributed the country’s increased “attractiveness” to foreign firms to the country’s improved governance under the Aquino administration, investment upgrades made by several agencies, and the availability of young, quality labor force in the Philippines.
“As the Philippines becomes a favored foreign investment destination, we will continue with the acquisition of additional industrial land, the development of recurring revenue businesses and the creation of new ancillary services. All of these will enhance our leadership position in providing world class infrastructure and excellent customer service support,” Ibañez said.
Ibañez did not give a specific timeline for the development of these new industrial parks, but noted that FPIP has been planning to pursue these new ventures with its current partner, Sumitomo Corp. of Japan.
At present, FPIP owns and manages the 450-hectare premier industrial park in Sto. Tomas, Batangas. FPIP is a joint venture between the Lopez-led First Philippine Holdings Corp. (70 percent) and Sumitomo (30 percent).
“Our First Philippine Industrial Park is undoubtedly the strongest brand in the country’s industrial park sector today. Last year alone, FPIP successfully attracted familiar names in global manufacturing like Canon, Brother, Hoya, Cooper and Jedic to build their manufacturing facilities in our park. With their entry also [came] their suppliers and subcontractors also wanting to establish operations next to their largest customer,” noted FPH chairman and CEO Federico R. Lopez.
Last year, FPIP’s locators created 40,000 jobs at its site in Batangas. FPIP managed to convince five global giants to locate their manufacturing operations in the Philippines namely Japanese printer companies Canon and Brother; electronic component producer Murata; aircraft interior fabricator BE Aerospace, and the Danish maker of hearing aids, Sonion.
Another 10,000 jobs will be created in the economic zone by 2014, when all these five new locators shall have fully established their operations, according to the FPIP.
