We recently welcomed Acbel Polytech President Jerry Hsu and his executive team at MECO’s Philippine Trade and Investment Center in Taipei and discussed the conglomerate’s current operations and expansion plans in the Philippines. In a meeting with DTI Trade Representative and MECO Director of Commercial Affairs, Michael Alfred Ignacio and his team, both sides discussed how the Department of Trade an Industry and the Board of Investments could support Acbel’s growing presence in the country, including its foray in new verticals. They also discussed the recent passing into law of the Philippine CREATE Act which revolutionizes the way the Philippines grants investment incentives, in addition to lowering Corporate Income Tax to 25% from the current 30%.
Acbel Polytech Philippines, Inc. produces power supply solutions that are integral to the manufacture of electronics and computer equipment In addition, it sees the company’s growth potential specifically in new and pioneering technologies and discussed how the Philippines can play a major role in its medium to long term plans.
Tracing Lines Launched in Taipei: Philippines-Taiwan Craft Industry Research and Development Cooperation Program
PTIC Taipei today joined the National Taiwan Craft Research and Development Institute, Taiwan’s Ministry of Culture and the Center for International Trade Exhibitions and Missions of the Philippines for the launch of Tracing Lines: Philippines-Taiwan Craft Industry Research and Development Program.
The Exhibition, which was held at the Songshan Cultural and Creative Park in Taipei today, April 21, 2021 celebrated the artisanship and high-levels of design as a result of collaboration between artists, craftsmen and designers from the Philippines and Taiwan.
CITEM Executive Director Pauline Suaco-Juan gave her insightful remarks celebrating the design collaboration between the Philippines and Taiwan, which is the culmination of a long standing cooperation initiative which started in 2015.
“The Craft and Design Cooperation between Taiwan and the Philippines is truly an exciting outcome of this landmark design collaboration with Taiwan among artists from both sides. While most of our cooperation agreements focus on trade, investments, economic gateway facilitation, technology, innovation and health among others, it is also very refreshing to note that design and crafts highlight the artistic paradigm, similarities and complementation of this partnership between the Philippines and Taiwan, particularly focusing on the cultural and creative connections between our two sides. I can just Marvel at the value that has been created in this collaboration. In a way, we are honoring and reviving the ancient close cultural links between our two peoples.” Said Michael Alfred Ignacio, Trade Representative of the Philippine Trade and Investment Center in Taipei and Director of the Manila Economic and Cultural Office, who represented the Philippine Department of Trade and Industry and CITEM at the launch opening of the exhibition today.
The artists, designers and craftsmen from both the Philippines and Taiwan worked closely together to fuse the use of three main materials: the Bamboo and Ceramics from Taiwan, and Abaca Fiber from the Philippines, resulting in cutting-edge, contemporary and up-to-date creations.
The partnership between Filipino and Taiwanese designers, craftsmen and artists allow both side to explore their respective strengths, particularly in terms of ingenious use of raw materials, processing and design. Over-all the final works were a reflection of utmost complementation and fusion of aesthetics from both sides. It was also very astonishing to see how heritage crafts are given a contemporary look and feel and modern functionality.
About The Center for International Trade Exhibitions and Missions
CITEM is the trade exhibition and missions arm of the Philippine Department of Trade and Industry.
About The Philippine Trade and Investment Center in Taipei
PTIC Taipei represents the Philippine Department of Trade and Industry in Taiwan and serves as the commercial affairs section of the Manila Economic and Cultural Office.
We are once again participating at all branches of Carrefour Taiwan 家樂福總公司
for the Carrefour Asia Fair with a wide range of very-well curated selection of premium Philippine Food and Beverage Brands that will prominently be on display from May 12 - May 25, 2021.
We are organizing the FoodPhilippines participation at this flagship promotion event with Carrefour as part of our mandate to promote Philippine Food and Beverages in the mainstream Taiwanese Market.
Visit any Carrefour branch in Taiwan during this period to grab your stash of Filipino delicacies!
Premium Philippine Chocolates to be featured at City'Super Sogo Fuxing Branch for Mother's Day Special
Philippine Premium Chocolates Auro Chocolate and Theo & Philo Artisan Chocolates will be prominently featured and available for sale at City'Super "Mother's Day Thanksgiving Special" event from April 15 to May 9, 2021 at City'Super Sogo Fuxing.
We are closely supporting exclusive importer and distributor Sabor del Sur 味覺南國 at this upcoming activity as part of DTI’s mandate to promote Philippine products in the Taiwanese mainstream market. PTIC Taipei first introduced the Philippine premium chocolates to City Super last year.
Next month, we are bringing a selection of curated Philippine products which will be on display under the FoodPhilippines banner as we join Carrefour Taiwan’s “Asia Fair” event in all 137 branches all over the island.
Philippines holds Investment Forum in Taipei highlighting CREATE Law and shining examples of Taiwanese manufacturing investments in the Philippines
Taipei, Taiwan (April 15, 2021) - The Manila Economic and Cultural Office (MECO) and its commercial affairs section—the Philippine Trade & Investment Center in Taipei, today held their annual Philippine Investment Forum in Taipei to highlight CREATE, the country’s new incentives law that will change and revolutionize the way investments and benefits for investors are granted to investors. The event was widely attended by a jam-packed crowd of top Taiwanese executives, decision-makers and business leaders that are looking for new destinations to expand their manufacturing and business operations.
The Corporate Recovery and Tax Incentives for Enterprises Act, otherwise known as CREATE, which was very recently signed into law by President Rodrigo Duterte on March 26, 2021 takes effect on July 1st of this year. Aside from lowering the current corporate income tax rate from 30% to 25% for large corporations and to 20% for small businesses, CREATE effectively overhauls and updates the tax and fiscal incentives and will be granted on a strategic, targeted, performance-based and time-bound basis. The new law is expected to make the Philippines a highly viable and more competitive choice for companies that are exploring for their next investment destination and manufacturing hub in Southeast Asia.
Department of Trade and Industry Undersecretary (Deputy Minister) Dr. Ceferino S. Rodolfo, PhD, who also concurrently serves as managing head of the Philippine Board of Investments, delivered the plenary keynote presentation via live online link to the audience in Taipei introducing the CREATE Law and how Taiwanese companies can take full advantage of the landmark legislation. “With the signing into law of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act which will provide enhanced incentives that can position the Philippines competitively alongside other Asian countries vying for investments, we expect more manufacturing companies to follow suit, especially with the positive experiences and successes of established Taiwanese companies successfully operating in the Philippines,” said Undersecretary Rodolfo. He also noted that the President certified as urgent, three major bills currently pending before congress, that are seen to further improve the business climate and make the Philippines a more attractive business destination. These are namely to introduce amendments to the Public Service Act, the Foreign Investments Act and the Retail Trade Liberalization Act. Undersecretary Rodolfo also informed the audience that the President just recently issued an Executive Order lifting the ban on new mining agreements.
MECO Chairman and Resident Representative in his Welcome Remarks and Opening Keynote commended Taiwan’s economic performance, “Noteworthy and commendable, however, is Taiwan, with its laudable handling of the ongoing health crisis, thus managing to overcome the challenges and even growing their economy by 3.11 percent. With experts projecting Taiwan’s economic growth at 4.64 percent this year, I believe greater cooperation and partnership with Taiwan’s businesses would be a good platform to launch a comeback as the pandemic hopefully subsides.” Banayo ended his remarks with an invitation: “We look forward to sharing golden opportunities with the Taiwanese business community, particularly in the fields of manufacturing, infrastructure investments and information communications technology. Choose Philippines! Make it happen in the Philippines!”
In an impressive show of support for the Philippines, top-ranking Taiwanese executives with extensive business and manufacturing operations in the Philippines came out in full force to provide their testimonial keynotes on their positive experiences and how choosing the Philippines contributed to their respective corporate bottomlines and leading positions in their markets.
James Wang, CEO of SERCOMM, a global leader in the manufacture of telecommunications and broadband equipment, shared how they were able to scale their operations from just a little over a year ago. SERCOMM currently employs more than 2,000 Filipinos in the country and has a leading market share for their product segments in the US market. "We are very proud to have achieved the production milestone in such a short time, especially during this unprecedented time. Sercomm Philippines has become a crucial portion of Sercomm's global operations. We plan to continuously expand our operations to support future business growth in the local and global markets” said Wang.
Chairman Patrick Chiu of Hocheng Philippines Corporation which has been operating a major manufacturing hub in the Philippines for over 25 years since 1995, shared that the company has steadily grown its business in the Philippines enjoying a 55% current market share. HCG now enjoys the distinction as the No. 1 total bathroom solutions provider in the Philippines. Mr. Patrick Chiu, Chairman of Hocheng Philippines in his testimonial keynote, shared his company’s experiences and successes in the Philippine market and how they are quickly able to address challenges brought about by the pandemic.
The forum’s other resource keynote speakers provided highly valuable insights for the Taiwanese business leaders and entrepreneurs considering the Philippines for their future plans. Ma. Corazon Halili-Dichosa, Executive Director of the Philippine Board of Investments, who heads the Industry Development Services Group, discussed why the Philippines is Taiwan’s next R&D and Manufacturing Partner in Asia at this investment forum. She also discussed the numerous advantages of establishing operations int he Philippines such as unrivaled access to market regional markets, FTAs, GSP Privileges and the country’s world-class, globally sought after human resource.
Kevan Tsai, Director of TEEMA’s New Southbound Project Team and serves in the newly formed and very important New Southbound-Taiwan ICT Links Committee, discussed why TEEMA has included the Philippines among the top countries for Taiwanese electronics and semiconductors companies to consider in their regional expansion plans.
Jonathan Ravelas, the Chief Market Strategist and First Vice President of BDO, the Philippines largest universal bank provided an in-depth economic overview and market outlook on the Philippines. Aside from the government’s infrastructure program, he considers as factors that will further boost economic recovery the additional spending on health and education and the election spending ahead of the 2022 polls, in additional to recent legislation meant to address recovery from the pandemic.
The Philippine Investment Forum in Taipei 2021 is organized by the Philippine Trade and Investment Center in Taipei (PTIC Taipei), which also represents the Philippine Department of Trade and Industry in Taiwan and is headed by DTI Trade Representative and MECO Director of Commercial Affairs, Michael Alfred Ignacio who opened the forum and moderated the Q&A Sessions. PTIC Taipei regularly assists Taiwanese investors, Philippine exporters and represents the country’s business and commercial interests with Taiwan. This event is PTIC Taipei’s flagship forum to engage potential Taiwanese investors and locators for the Philippines.
ABOUT PTIC TAIPEI
The Philippine Trade & Investment Center in Taipei is the Commercial Affairs Section of the Manila Economic and Cultural Office and the representative office of the Philippine Department of Trade & Industry in Taiwan