Taiwanese firms seeking to steer clear of US-China trade war turn to PH | Inquirer Business

Taiwanese firms seeking to steer clear of US-China trade war turn to PH

/ 05:08 AM December 27, 2018

Some Taiwan-based manufacturing firms that supply parts to popular tech companies like Apple are interested in setting up shop in the Philippines, as they look for ways to avoid the US-China trade war.

Trade Undersecretary Ceferino Rodolfo said this earlier this month, telling reporters that some companies were already “firm” in their plans to manufacture here in the Philippines.

Interestingly, a bilateral investment agreement, which raised serious concerns from China, had helped the country’s case in getting these Taiwan-based firms to consider the Philippines.

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These firms include computer giant Wistron Infocomm Corp., which will make a comeback nearly a decade since it left the country, a return brought about by the expensive US-China trade war.

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Taiwan-based Catcher Technology, which also has operations in various parts of China, is likewise interested to set up shop in the Philippines.

Rodolfo said it was looking for a 60-hectare area for its facility.

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Further details, such as investment costs, were not disclosed, however.

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Nevertheless, the investment agreement signed by the Department of Trade and Industry with Taiwan last year played a part, even though China believes that Taiwan should have no official foreign ties.

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Chinese foreign ministry spokesperson Geng Shuang said China was “extremely concerned” over the matter since the documents signed were “obviously official in character,” according to a Reuters report.

“We enhanced [our relations] to a bilateral [investment] agreement, which was signed last year. So they saw this, and we also have protection for intellectual property rights,” Rodolfo said.

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“They see that it’s good here in the Philippines, so Wistron

—that’s one [example]—is going [back] to Subic,” he explained.

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This is how we benefit from the trade war, he then added. —ROY STEPHEN C. CANIVEL

TAGS: manufacturing firms, Trade Undersecretary Ceferino Rodolfo, US-China trade war

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