Singapore firm pledges P11-B investment in PH
Photo courtesy of PCO
MANILA, Philippines — Singapore-based company Dyson has committed to an investment of P11 billion in the Philippines over the next two years, according to the Presidential Communications Office.
The announcement came during a meeting with President Ferdinand “Bongbong” Marcos Jr. on Saturday.
“We’ve announced a significant investment equivalent to P11-billion for our new factory and R&D center… We’re also looking to expand in terms of staff, software, and other requirements over the coming two years,” said Dyson Chief Executive Officer Ronald Krueger.
MORE: Future is bright for Singapore and PH, says Bongbong Marcos
Dyson further noted that this investment would lead to the creation of 1,250 jobs.
The investment from Dyson is projected to employ around 1,250 individuals and will shift more contract manufacturing to the Philippines by mid-2022, specifically in the second or third quarter, the PCO said.
“We’ll see what can be achieved with all the resources we have,” said Marcos.
