{"id":18933,"date":"2024-05-27T03:03:39","date_gmt":"2024-05-27T03:03:39","guid":{"rendered":"https:\/\/energybuzz.ph\/staging\/6915\/3-german-firms-considering-phl-expansions-peza-says\/"},"modified":"2024-05-27T03:03:39","modified_gmt":"2024-05-27T03:03:39","slug":"3-german-firms-considering-phl-expansions-peza-says","status":"publish","type":"post","link":"https:\/\/energybuzz.ph\/staging\/6915\/3-german-firms-considering-phl-expansions-peza-says\/","title":{"rendered":"3 German firms considering PHL expansions, PEZA says"},"content":{"rendered":"<div>\n<p class=\"p3\">THE Philippine Economic Zone Authority (PEZA) said three German companies in the automotive, semiconductor, and pharmaceutical industries are planning to expand their Philippine operations.<\/p>\n<p class=\"p4\">In a statement Sunday, the investment promotion agency (IPA) said it found out about the expansion plans after business-to-business meetings on a visit to Germany this month.<\/p>\n<p class=\"p4\"><span class=\"s2\">PEZA did not disclose the names of the companies but added that one of the companies is already preparing to apply for registration with the IPA.<\/span><\/p>\n<p class=\"p4\">\u201cWe (will) announce the identities of these companies once they file their application with PEZA,\u201d PEZA Director General Tereso O. Panga said.<\/p>\n<p class=\"p4\">One of the companies, PEZA said, makes automotive safety sensors in the Philippines.<\/p>\n<p class=\"p4\">\u201cThey mentioned their plans to expand their operations (and are currently testing) their new products,\u201d PEZA said.<\/p>\n<p class=\"p4\">The second company is one of \u201cthe world\u2019s largest manufacturers of discrete semiconductors and passive electric components\u201d with automotive, industrial, computing, military, aerospace, and medical applications.<\/p>\n<p class=\"p4\">\u201c(It) discussed with PEZA plans to expand its operations in the Philippines to cater to their new products,\u201d the IPA said.<\/p>\n<p class=\"p4\">PEZA also met with a German company that makes pharmaceutical laboratory and medical equipment calibrating devices, which is now preparing its application with PEZA.<\/p>\n<p class=\"p4\">\u201cPEZA was also able to secure a meeting with one of the world\u2019s biggest pharmaceutical companies that is into life sciences, healthcare, and electronics and with one of the world\u2019s leading car makers headquartered in Germany,\u201d it added.<\/p>\n<p class=\"p4\">PEZA was in Germany for a week-long investment mission on May 13\u201317, during which it attended the IFAT Munich 2024 trade show.<\/p>\n<p class=\"p4\">\u201cThis event is important to PEZA as we are transforming our ecozones into smart and sustainable locations for investments,\u201d Mr. Panga said.<\/p>\n<p class=\"p4\">Citing a report by Sumitomo Mitsui Banking Corp., PEZA said that German companies primarily consider demographics and the availability of supply chain networks when investing in the Philippines.<\/p>\n<p class=\"p4\">It added that German companies are also testing the waters on locating outside of China.<\/p>\n<p class=\"p4\">\u201cGiven this positive outlook for the Philippines, we remain aggressive in our efforts to promote the country as a smart high-tech manufacturing hub and as an enviable investment destination in Asia,\u201d Mr. Panga said.<\/p>\n<p class=\"p4\">To date, PEZA houses 37 locator companies with German equity, which accounted for P30 billion in investment and 20,000 jobs. \u2014 <b>Justine Irish D. Tabile<\/b><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<div>THE Philippine Economic Zone Authority (PEZA) said three German companies in the automotive, semiconductor, and pharmaceutical industries are planning to expand their Philippine operations. In a statement Sunday, the investment promotion agency (IPA) said it found out about the expansion plans after business-to-business meetings on a visit to Germany this month. PEZA did not disclose [\u2026]<\/div>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","footnotes":""},"categories":[1],"tags":[14644,6156,18073,7348,2362,17486,11354,192],"class_list":["post-18933","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-bworldonline","tag-considering","tag-expansions","tag-firms","tag-german","tag-peza","tag-phl","tag-says"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>3 German firms considering PHL expansions, PEZA says - Energy Buzz<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/energybuzz.ph\/3-german-firms-considering-phl-expansions-peza-says\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"3 German firms considering PHL expansions, PEZA says - Energy Buzz\" \/>\n<meta property=\"og:description\" content=\"THE Philippine Economic Zone Authority (PEZA) said three German companies in the automotive, semiconductor, and pharmaceutical industries are planning to expand their Philippine operations. 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