by Roderick Abad

Published in Business Mirror

03 October 2017

TAIWANESE enterprises are encouraged to do business in the Philippines to further strengthen the economic and bilateral ties of two allied and close neighbors.

“Now is the best time and the best opportune moment to nourish our friendship and to work together to strengthen our relations and broaden multifaceted cooperation, so as to create a win-win situation eventually mutually beneficial for us,” Taiwan Association Inc. (TAI) President Allan Lin said during the opening ceremonies of the Taiwan Expo 2017 held in Pasay City over the weekend.

In support of Taiwan President Tsai Ing-wen’s New Southbound Policy, the top executive called for potential Taiwanese investors to venture in various Philippine industries, including agriculture, fisheries aquaculture, technology, small and medium enterprises, information and communications technology, green technology, climate change, education and culture.

“Also, as the Philippines’s infrastructure and public facilities have been continuously improved over the years and the efficiency of operations at ports has also been increasing, I will urge more Taiwanese entrepreneurs to diversify their investments to the Philippines,” he added.

Since the Philippines has become the forefront and gateway of Taiwanese investors to Southeast Asia, Lin urged more Filipino entrepreneurs to engage potential partners from Taiwan in agribusiness, manufacturing, banking, transport and communications, infrastructure and real estate, and tourism and logistics.

The competitive advantages of the Philippines as a preferred investment destination, he said, include strong macroeconomic fundamentals, an English-speaking population, a vast pool of talented professionals and a young consumer market with increased purchasing power.

“All of these above-mentioned factors explain why the Philippines has been selected as one of the most important countries to be prioritized by Taiwan to carry out the New Southbound Policy. If we work in partnership, I am sure our two countries will benefit from it,” Lin added.

Taiwan has very close economic relationship with the Philippines, with the latter being its 10th-largest trading partner. The former is the 12th-largest foreign investor in the Philippines, with total investments reaching $2.3 billion last year.

“I believe that our two countries will continue to strengthen cooperation and deepen bilateral substantive relations based on the existing solid foundation,” Lin said. “With your help, our cooperation, partnership and substantial bilateral relations will grow from strength to strength in the years to come.”