A Taiwanese company manufacturing car and home fragrance products opened its first manufacturing plant in the Philippines last month, the Philippine Economic Zone Authority (PEZA) announces on Tuesday, October 1, 2024. Photo from Aromate Industries/Website
A Taiwanese company that manufactures car air fresheners and home fragrance products opened its first manufacturing plant in the Philippines last month, the Philippine Economic Zone Authority (PEZA) said Tuesday, marking another addition to the list of more than 100 firms from the East Asian economy operating locally.
The investment promotion agency said their deputy director general for operations Vivian S. Santos represented them during the inauguration and grand opening of Aromate’s landmark branch at the Light Industry and Science Park (LISP) III in Sto. Tomas, Batangas.
“We are truly fortunate to have such a forward-thinking and world-class company choose the Philippines as its strategic location for expansion,” Santos said in a statement.
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The PEZA said that Aromate’s facility has an initial investment of P12.1 million and that it is currently employing 20 people, a number which is expected to increase as it continues its operations in the country.
The facility has a building floor area of 2,340 square meters, according to the PEZA.
To date, the PEZA said it hosts 113 registered enterprises with Taiwanese equity, firms which have generated P33.475 billion in investments, $1.11 billion in exports, and more than 31,000 direct jobs.
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In March 2023, the DTI said that Taiwan ranks as the Philippines 10th biggest investment partner with total approved investments of P2.12 billion in the last two years.
It said that notable Taiwanese companies who already have established businesses in the Philippines include the semiconductor firm EMS company, as well as the New Kinpo Group and its subsidiary Acbel Polytech Philippines Inc., which develops, manufactures, and sells power management solutions.
Others firms that have been recognized by the DTI are Sercomm Philippines Corporation, which is engaged in the manufacturing and assembly of internet accessories, parts, and equipment; Medtecs International Corporation Limited, which manufactures medical consumables; and hospital and work wear apparels and motor part manufacturing company TECO.