The Department of Trade and Industry (DTI) Region 2 huddled with the Philippine Trade and Investment Center Taipei and Cagayan Economic Zone Authority via Zoom on 16 September 2021.

The virtual meeting was an initial step to introduce the investment opportunities for the region.

DTI Region 2 screenshot of participants of the scoping meeting with PTIC

“This is just the beginning and I am looking forward to more concrete efforts to promote Cagayan Economic Zone Authority (CEZA) with the help of PTIC,” said DTI R2 Regional Director (RD) Leah Pulido Ocampo in her message.

She also emphasized that the activity was just a start to more trade and investment partnerships with Taiwan. She also shared the agency’s plan, two years ago, to embarking on intensive investment marketing activities targeting East Asia, particularly Taiwan, and focusing its promotion anchored on the region’s strengths, such as agriculture production and light manufacturing.

These plans were deferred due to the pandemic, but with the recent developments in Taiwan, RD Ocampo said she is optimistic to push through with the region’s investment promotion activities.

In his message, Anthony Rivera, Trade Representative and Director for Commercial Affairs of Philippine Trade and Investment Center (PTIC) Taipei, said that PTIC Taiwan would like to know more of what Region 2 can offer, and to learn how their center can approach the promotion facilities and focus of CEZA.

CA Rivera mentioned that Taiwan’s New Southbound Policy encourages companies to invest southbound within ASEAN countries, including Philippines.

He added that the policy has been pursuing activities with regard to its priority industries which are consistent with the Philippines’ focus industries such as: 1)  manufacturing activities, electronics and e-vehicles, 2) essential goods and services in response to COVID-19 and other healthcare related and medical products, 3) agriculture particularly on production processing and research and development, 4) IT-BPM and creative industries, 5) innovation drivers, 6) supply chain and logistics, 7) energy and renewable energies, and 8) digital economy, among others.

The presence of the Cagayan Special Economic Zone and Freeport as a growth nexus for regional development was highlighted by Leonardo Cruz, Head Technical Assistant, OIC-Cagayan Offices, and Acting DM on Marketing and Investment Promotion of CEZA.

He presented the agro-industrial prospects of CEZA linked with the development of its five major urban nodes.

Part of their development prospects include infrastructure upgrading from airports, seaport and power sources, establishment of food processing area, 204 hectares Mapurao township development, 753 hectares eco-tourism park, 800 hectares agro-industrial center, etc.  He also underscored the fiscal and non-fiscal incentives available offered to their locators.

Furthermore, the group agreed on the immediate next steps: package investment portfolios to promote CEZA, identify existing investment leads for follow and target new investment leads, possible collaboration on agriculture development through research and development exchanges, and explore supply of high value seafood products

This meeting is a significant milestone to put the region in the forefront as a priority investment destination for East Asian countries. ♦

Date of Release: 21 September 2021