Japanese manufacturer P.IMES will increase business in PH, says Peza

Japanese manufacturing firm P. IMES Corporation is expanding its operations in the Philippines, investing nearly P2 million to improve the output of its facility in Cavite, according to the Philippine Economic Zone Authority (Peza).

PEZA said the firm had signed a registration agreement with them last February 13 for the expansion.

“Registered with PEZA since 1993 as a subsidiary of IMES Japan, P. 800IMES Corp has a rich history of providing manufacturing high-technology products for various industries, including electronics, automotive, medical and semiconductor sectors,” Peza said in a statement.

The government’s investment promotions agency added the expansion will increase the company’s production capacity of medical equipment.

PEZA said Japan remains their top source of investors, with the host country currently hosting 800 registered Japanese business enterprises.

It said companies from Japan have brought in more than P500 billion in investments and have provided jobs to 300,000 workers.

These Japanese investors have also contributed over $15 billion worth of exports in 2024, said Peza.

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PEZA is anticipating more investors to enter the country following the signing of the implementing rules and regulations (IRR) of the Corporate Recovery and Tax Incentives for Enterprises

“The IRR provides clarity for the smooth implementation of the CREATE MORE Act,” Peza Director General Tereso Panga said in a statement.

“It is a product of conjoined efforts that will surely attract more interest in the Philippines and [pave] the way for future investment growth,” Panga noted.

“Furthermore, it supports Peza’s core mandate to drive investment growth, create jobs, and promote sustainable development, especially in the countryside. We now provide even more benefits to investors who wish to locate in the Philippines,” he added.