Mr. Simon Shen, CEO of the largest electronics manufacturer in Southeast Asia, the New Kinpo Group, talks about his company's major moves to establish their major manufacturing hubs in the Philippines and Thailand. It's printer manufacturing business, alone, manufactures 27 million units per year.

With eyes on the rapidly rising incomes of the Southeast Asia markets, New Kinpo Group's Philippine subsidiary will list at the Philippine Stock Market in November of 2019, with their initial public offering.

Founded in Taiwan in 1973, the New Kinpo Group has grown to become one of the biggest industrial companies with estimated combined revenues of $38 billion in 2018.

Shen's group alone with 12 business units is expected to contribute $6.8 billion in revenues this year. NKG has 72 factories employing 108,138 employees.

Read more from Money UDN here

"To harness these opportunities in tourism and tourism infrastructure, the Manila Economic and Cultural Office (MECO) held its first-ever flagship tourism event, the Philippine Tourism Investment Forum, in Taipei on Thursday, Oct. 3, 2019.
It gathered some 120 Taiwanese conglomerates and business leaders under one venue where the MECO presented to them the various opportunities in the Philippines for tourism and tourism infrastructure through a forum as well as in high-level strategic meetings.
The forum was organized by MECO's commercial affairs section, the Philippine Trade and Investment Center (PTIC), which also functions as the representative office of the Philippine Department of Trade and Industry in Taiwan.
MECO and PTIC worked closely with the Philippine Tourism Infrastructure and Enterprise Zone Authority (TIEZA) and the Department of Tourism’s Taipei Office to organize the two-day tourism investment road show. 
The forum highlighted the attractive incentives, government support and numerous development and partnership opportunities in the Philippine tourism, hospitality and entertainment sector in a bid to boost Taiwanese presence in this industry.
Among the speakers at the forum were MECO chairman and resident representative Angelito Banayo and TIEZA chief operating officer (COO) Pocholo Paragas, the head of the Philippine delegation.
Banayo highlighted the numerous opportunities that the TIEZA is offering for the first time in Taipei to potential Taiwanese investors. Paragas, meanwhile, described the pivotal role of his office in promoting and revitalizing the Philippine tourism industry by aggressively promoting investments in tourism economic zones (TEZs).

...

According to MECO, among the flagship TEZs being offered to foreign tourism enterprises are Rizal Park in Manila, Mount Samat in Bataan, Panglao Bay Premiere in Bohol, San Vicente in Palawan, and Bucas Grande Island in Surigao del Norte.
The Philippine delegation said the government has made it easier for foreigners to invest in tourism and tourism infrastructure in the country with the passage of Republic Act No. 11262 in April. It amended the Tourism Act of 2009 and grants TIEZA extended powers to provide incentives to tourism enterprises located in designated TEZs.
In an email to The Philippine STAR, trade representative and MECO director of commercial affairs Michael Alfred Ignacio said among these incentives are income tax holidays of up to six years, five percent preferential taxes on gross income, net operating loss carry over, social responsibility incentives, and tax exemptions in the importation of capital and transportation equipment up to 2029.
Aside from fiscal incentives, tourism enterprises can also enjoy non-fiscal incentives, such as employment of foreign nationals, granting of special investor's resident visa, a 50-year land lease (renewable to 25 years, a total of 75 years), exemption from requisition of investment, and foreign currency transactions, Ignacio added."

​read more from source:   OneNews powered by Philstar

original by:   Epi Fabonan III
published Thursday, October 10, 2019 at OneNews by Philstar

MANILA - Local groups urged Taiwanese businessmen to invest in the country's tourism, entertainment and travel sectors during a Philippine Tourism and Investment Forum held Thursday in Taipei.

Manila Economic and Culture Office (MECO) through its commercial affairs section, the Philippine Trade and Investment Center in Taipei (PTIC), worked closely with the Philippine Tourism Infrastructure and Enterprise Zone Authority (TIEZA) and the Department of Tourism's Taipei office to organize the tourism investment roadshow and strategic meetings with Taiwanese conglomerates with "strong potential" to invest in the sector, the firm said in statement. 

Conglomerates in Taiwan should take advantage of incentives offered by TIEZA, MECO said. 

Taiwanese companies in tourism, travel, entertainment and hospitality businesses were invited to "seriously consider the Philippines as its primary investment destination, to take advantage of the golden opportunities, government support and incentives and world-class travel destinations," MECO added.

International opportunities offered by TIEZA for the first time Taiwanese investors were highlighted by MECO chairman Angelito Tan Banayo during the forum.

Promoting investments in the Tourism Economic Zones helps in revitalizing the local tourism industry, TIEZA chief operating officer Pocholo Paragas said in his keynote speech. 

President Rodrigo Duterte in April signed into law Republic Act 11262, which amended the Tourism Act of 2009, enabling TIEZA to grant attractive incentives for tourism enterprises in tourism enterprise zones. 
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The Philippines received the highest growth rate for outbound tourists from Taiwan at 55.42 percent for the month of June and 30.6 percent from January to June period compared to the same period in 2019 , MECO said, citing data reported by Taiwan. 

read more from source:  news.abs-cbn.com ​Posted at Oct 04 2019 03:03 PM

(3 October 2019 - Taipei, Taiwan) The Manila Economic and Cultural Office (MECO) held today, its first ever flagship event, entitled The Philippine Tourism Investment Forum in Taipei (2019) to present various  excellent opportunities in the Philippines Tourism and Tourism Infrastructure sector to some 120 Taiwanese conglomerates and business leaders.

The forum was organized by MECO's commercial affairs section,  The Philippine Trade and Investment Center (PTIC) in Taipei, which also functions as the representative office of the Philippine Department of Trade and Industry in Taiwan.   MECO and PTIC Taipei  worked closely  with the Philippine Tourism Infrastructure and Enterprise Zone Authority (TIEZA),  and the Department of Tourism's Taipei Office to organize the two-day tourism investments roadshow composed of the forum and another day of high-level strategic meetings with top  Taiwanese conglomerates with strong potential to invest in the sector.  The forum highlighted the highly attractive incentives, government support and numerous development and partnership opportunities in the Philippine Tourism, Hospitality and Entertainment sector, in a bid to boost Taiwanese presence in this industry.   

The event's lead organizer,  MECO-PTIC Trade Representative and Director of Commercial Affairs, Michael Alfred Ignacio,  opened the event and introduced the distinguished line up of speakers, before introducing and calling on MECO Chairman and Resident Representative Angelito Tan Banayo to deliver the Welcome Keynote.

MECO Chairman Banayo,  setting the tone for the afternoon in his Welcome Keynote highlighted the numerous golden opportunities that are being offered by TIEZA for the first time internationally to potential Taiwanese investors in Taipei.

TIEZA Chief Operating Officer Pocholo Paragas, the head of the Philippine delegation,  delivered the event's Plenary Keynote said that "it was an honor to be invited to present the crucial role of the tourism sector in the Philippine Infrastructure program."   TIEZA COO Paragas went on to describe the pivotal role of his office,  in promoting and revitalizing the Philippine Tourism Industry by aggressively promoting investments in Tourism Economic Zones (TEZs) which TIEZA regulates. 

Other speakers included, TIEZA Assistant COO Atty. Karen Mae Sarinas-Baydo, who presented investment opportunities in the Philippine Tourism Enterprise Zones and TIEZA Assistant COO Jetro Nicolas Lozada, who talked about investment opportunities and development projects of TIEZA assets.  Atty. Niño Rupert Aquino, also touched briefly on the highly attractive incentive regime being administered by TIEZA to qualified investments in the sector, as well as outlined the procedures and processes in registering to avail of said incentives.

MECO Director of Tourism Affairs and DOT Tourism Attache, Hazel Habito-Javier, presented the numerous reasons and sought after tourist destinations in the Philippines as main reasons for Taiwanese companies to explore investment potentials in the country, in a presentation full of wonderful images and videos.

The afternoon's Testimonial Keynote, was delivered by MSK Group Chairman and CEO, Simon Su, whose group, engaged in construction and development activities in the Philippines, embarked on a highly ambitious US$2Billion project to develop a luxury resort condominium and hotel complex in Subic Bay in 2017.    PTIC Trade Representative Ignacio  invited Mr. Su to share their excellent experiences and best practices in their decision to locate their major investments in the Philippines, in order to entice more Taiwanese investors to also follow suit and invest in the highly promising Philippine Tourism sector.

As a brief background,   Philippine President Rodrigo Duterte signed into law, Republic Act 11262, on April 10, 2019, which amended the Tourism Act of 2009, granting TIEZA extended powers to grant attractive incentives for Tourism Enterprises located in designated Tourism Enterprise Zones. These incentives include income tax holidays up to 6 years, 5% preferential taxes on gross income and tax exemptions on importation of capital and transportation equipment from tariffs and duties up to 2029, among many others.

The Philippines, boasting of some 7,107 islands, is considered the closest paradise destination for Taiwanese tourists. As of July 2019, Taiwan reported that the Philippines received the highest growth rate for outbound tourists from Taiwan at 55.42% for the month of June and 30.6% from January to June compared to the same period in 2018.

Taoyuan Airport has regular flights flying to Manila on a daily basis by China Air, Eva Air, Philippine Airlines, Cebu Pacific and Air Asia. Eva Air flies daily from taoyuan to Cebu, China Air has 4 flights a week from Manila to Kaoshiung, and Air Asia opened routes from Kaoshiung to Clark and Cebu. Tiger Air now also flies to Clark.

As Taiwan’s closest New Southbound partner, the Manila Economic and Cultural Office, through its commercial affairs section the Philippine Trade and Investment Center in Taipei, and in close cooperation with the Tourism Infrastructure Economic Zone Authority, cordially invited Taiwanese companies and conglomerates engaged in tourism, travel, entertainment and hospitality businesses to seriously consider the Philippines as its primary investment destination, to take advantage of the golden opportunities, government support and incentives and world-class travel destinations the Philippines has to offer.

(Taipei, Taiwan 10 September 2019) Philippine company Omnilines Energy International, an affiliate of Abacore Capital Holdings, forged strategic joint venture partnerships in a signing ceremony held Tuesday, 3 September 2019 at the Taipei Marriot Hotel. Mr. Raul De Mesa, currently Chairman of Abacore Capital Holdings and former Chairman of the Bank of Commerce, signed several agreements, on behalf of Omnilines and RBM Holdings with Chairman Feng Yi Lin of Taiwan’s Premiere-Slag International, Inc. to pursue major business ventures involving cement manufacturing and possible participation in construction projects in the Philippines under the Build Build Build program and local government infrastructure projects.

Present to support the business venture during the signing were some of Taiwan’s most important Taipans, such as Chairman Wong Wen-yuan, Chairman of the Taiwanese petrochemical and energy giant Formosa Plastics Group and Chairman Pan Chun-Jung of Kung Sing Engineering Corporation, one of Taiwan’s largest construction and engineering firms. Abacore President and CEO Ms. Regina Ongsiako-Reyes Mandanas joined the landmark signing ceremonies.
​
Governor Hermilando I. Mandanas of Batangas Province, where the joint venture projects will primarily be based, was also present during the event. The businesses to be undertaken under this agreement are foreseen to generate thousands of jobs in the province of Batangas. 

​

Taipei, 14 September 2019 -    Trade Representative Michael Alfred Ignacio, MECO Director of Commercial Affairs, delivered the Philippine Country Presentation at today’s South East Asia Conference organized by the Straits Exchange Foundation at Grand Mayfull Hotel in Taipei today, to promote the PHILIPPINES as a prime investment destination for Taiwanese companies looking at their next manufacturing base in South East Asia.

The event, which was widely attended by some 100 Taiwanese businessmen and executives currently operating in China, was formally opened by the Foundation’s Chairperson Ms. Katharine Chang and Director General Emile Chang of the Department of Investment Services of the Ministry of Economic Affairs.

A powerful testimonial was delivered by top executives of Major Taiwanese companies heavily invested in the Philippines such as the MSK Group and The Triboa Majestic Bay.

TAIWANESE firm Cal-Comp Technology (Philippines) Inc. has refiled its registration statement with the Securities and Exchange Commission (SEC), hoping to become public also before end of the year. 

Cal-Comp in its filing said it will offer some 371.42 million shares for its primary offering with an overallotment option of 55.71 million secondary shares for up to P25 apiece, or raising a total of P10.68 billion. 

The company expects to net P8.8 billion from the maximum offer, 40 percent of which will be used for facilities expansion, 30 percent for capital expenditure, 15 percent for debt repayment, 12 percent for research and development and 3 percent for working capital. 

Proceeds from the overallotment option amounting to P1.32 billion will go to the selling shareholder Kinpo International (Singapore) Pte. Ltd.

Read More: Business Mirror

Infrastructure and construction giants from Europe and Asia are vying to build the country’s first “airport express” railway line that will link Manila and Clark in Pampanga province, in line with the Duterte administration’s goal to decongest the capital.

The Department of Transportation (DOTr) said on Wednesday that companies from Indonesia, Japan, Spain, South Korea, Thailand as well local builders submitted bids for three contract packages under the Philippine National Railways (PNR) Clark Phase 2.

PNR Clark Phase 2 is a 53-kilometer railway line that will run from Malolos in Bulacan to Clark in Pampanga, whose Clark International Airport is being expanded. It will extend the ongoing PNR Clark Phase 1, which will run from Tutuban in Manila to Malolos.

Once finished in 2022, travel time between Buendia in Makati and Clark airport will be cut from more than two hours to about 55 minutes, the DOTr said. The railway line will be designed to serve 340,000 passengers a day.

The DOTr said companies that submitted bids for the packages under PNR Clark Phase 2 were Spain’s Acciona, Korean firms Daelim, Dong Ah Construction and Hyundai Engineering and Construction, Filipino builders EEI Corp. and Megawide Construction Corp., Thailand’s Italian-Thai Development Public Co. Ltd., Indonesian firms PT Pembangunan Perumahan and PT Waskita Karya Tbk and Japan’s Sumitomo Mitsui Construction Co. Ltd.

Read more: Philippine Daily Inquirer

Cash is still king in the Philippines but middle-class Filipinos are increasingly warming up to cashless payments, whether it’s for physical shopping or e-commerce purchases—including video streaming, music, ride-hailing and for booking travel requirements.

This is according to the latest Visa Consumer Payment Attitudes study, the fifth edition of the Consumer Payment Attitudes Study conducted on 3,000 individuals across eight markets in Southeast Asia.

In the Philippines, there were 500 respondents, with monthly income levels ranging from P12,000 to P80,000 or covering the mass consumer segment that has access to certain banking services.

Locally, the study showed that two in every three Filipinos expected to increase their use of card payments over the next 12 months, saying these were more convenient and hassle-free. The ratio rose by 28 percent from last year’s survey.

Also, two of three respondents in the Philippines had tried going cashless and close to 60 percent had gone cashless for at least a few days.

“It is heartening to know that more Filipinos are seeing the benefits of using digital payments based on the findings from the study. Visa’s data also shows a similar trend, where we continue to see good double-digit growth in terms of spend and transactions made by Filipino cardholders,” said Dan Wolbert, Visa’s country manager for the Philippines and Guam.

Read more: Philippine Daily Inquirer

MANILA, Philippines — The Department of Tourism (DOT) has partnered with Grab Philippines to offer tourists in Intramuros a more eco-friendly way to go around Manila’s Walled City.

DOT and Grab Philippines launched Wednesday GrabWheels, a two-wheel personal mobility device (PMD) that tourists can use to roam around Intramuros.

Under a memorandum of understanding with the Intramuros Administration,Grab Philippines said it would deploy 30 GrabWheels units in Intramuros which the public can use free of charge for a three-month period.

“It’s a trial period for three months, we’re offering it for free, then after three months we can look at the uptake and decide whether we extend it for the free period or we start charging,” Grab Philippines president Brian Cu told reporters.

Tourism Secretary Bernadette Romulo-Puyat expressed her optimism for the project, adding that she hopes this could be replicated in other parks in the country.


“This is keeping with the efforts of the DOT to inculcate a culture of sustainable tourism. This is what we envision to do to some, and ideally, to all of our destinations,” Puyat said.

“We want visitors to have access to an eco-friendly but fun mode of transportation,” she added.

Read more: The Philippine Star