Taiwanese investors remain bullish on Philippine business and investment opportunities particularly in the Mindanao region as representatives from the Taiwan External Trade Development Council (TAITRA) were recently in the country for a Business Opportunity Research Study Mission.
The Philippine BOI Extension Office in Davao, with Mindanao Development Authority (MINDA), Department of Agriculture, Department of Trade and Industry, Local Economic and Investments Promotion Officers of Davao Region met with the TAIRA representatives led by its Manager Dr. Albert Fan on January 19, 2018.
Dr. Fan informed the Davao stakeholders that TAITRA is looking for business partners in agriculture and aquaculture, two of Taiwan’s key sectors.
Trade Undersecretary and BOI Managing Ceferino Rodolfo said the shared optimism and confidence of Taiwanese investors in making their businesses grow in the Philippines particularly in Mindanao is a pronounced manifestation of the country’s inherent and competitive advantages.
He said that this positive development is a testament to the country’s sound economic fundamentals and sustained investor confidence that bodes well with the BOI’s thrust to further strengthen the country’s position as a preferred global investment destination.
Undersecretary Rodolfo also said that investment prospects in Mindanao remain rosy given the Php29.35 Billion significant investment projects registered with the BOI from January to December 2017. Of this investment value, Php15.25 Billion were from Region 12 (SOCCSKSARGEN), Php7.23 Billion from Region 10 (Northern Mindanao), Php5.43 Billion from Region 11 (Davao Region), and Php1.44 Billion from Region 13 (CARAGA).
The visit was in preparation for a planned Taiwan Trade Mission to Davao on March 2018 where TAITRA targets to bring in around 20 to 25 Taiwanese companies in the production and marketing of food processing and packaging machineries, green industry products and medical devices industries.
Aside from the trade mission, TAITRA and the Taiwanese Investors also plan to hold a Trade Exposition to showcase Taiwan’s State-of-the-Art agricultural equipment in Davao City tentatively scheduled for September 2018.
TAITRA is also interested in showcasing Taiwan’s premier, international and professional business-to-business (B2B) trading platform which focuses on the State-of-the-Art technologies for the field of agriculture in Asia.
TAITRA is Taiwan’s foremost nonprofit trade promotion organization. The council is sponsored by the government and industry organizations, providing business consultation service and connect international firms with Taiwanese partners.♦