PHILIPPINE TRADE & INVESTMENT CENTER TAIPEI
  • Home
  • Doing Business
  • News
  • Events & Announcements
  • Feature
  • Gallery
  • Contact
  • Press Releases

Ayala CEO Says Philippines Emerging as Refuge From Trade War

11/7/2018

 
Picture
Ayala Corp. is in talks to provide land to a Chinese company planning to build one of the world’s biggest tire factories in the Philippines to avoid having to pay U.S. tariffs, Chairman and Chief Executive Officer Jaime Augusto Zobel said.
  • A company based in the Chinese province of Guangdong is looking for 100 hectares (247 acres) of land in the Philippines from where it can set up a manufacturing base, he told Bloomberg Television’s Rishaad Salamat on the sidelines of the New Economy Forum in Singapore. Zobel didn’t identify the company.
Key Insights
  • The move may illustrate the latest example of how manufacturers are increasingly turning to Southeast Asia as an alternative to China amid tensions between the world’s two biggest economies. About a third of more than 430 American companies in China have or are considering moving production sites out of China, according to an Aug. 29 to a Sept. 5 survey.
  • The Philippines’ oldest conglomerate, which has interests in property, banking, telecommunications and infrastructure is betting the consumer-driven economy can sustain robust growth amid higher interest rates, Zobel said.
read more:bloomberg

Comments are closed.

    Picture
    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​

    Archives

    November 2020
    October 2020
    September 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    April 2018
    March 2018
    February 2018
    January 2018
    September 2017

Proudly powered by Weebly
  • Home
  • Doing Business
  • News
  • Events & Announcements
  • Feature
  • Gallery
  • Contact
  • Press Releases