Batangas City, Philippines—Department of Trade and Industry (DTI) Secretary Fred Pascual lauded the significant contributions of the First Philippine Industrial Park (FPIP) to the country’s industrial growth and economic development. Registered with the Philippine Economic Zone Authority (PEZA) since 1996, FPIP hosts over 150 locators and boasts an annual average of USD 3.5 billion in export sales.

During his visit on July 17, Secretary Pascual emphasized FPIP’s role as a thriving hub for innovation, productivity, and job creation. Its robust operations provide employment for thousands of workers, which contribute significantly to the country’s economy.

“It is with great pride that we gather here today to witness how the FPIP has been shaping our country’s industrial and economic landscape. We at the DTI laud the park’s focus on fostering the growth of export-oriented industries, particularly those engaged in light to medium non-polluting manufacturing, which aligns with our national goals for sustainable economic development,” said Secretary Pascual.

As a premier industrial park, FPIP’s strategic location, world-class infrastructure, and focus on sustainable practices have attracted major players like Brother, Canon, Ibiden, Murata, Collins Aerospace, Honda, Shimano, and Nestlé.

Building on this success, the DTI’s collaboration with FPIP’s Industrial Business Group has been pivotal in identifying and promoting prime locations for investors, reinforcing the Philippines’ position as a preferred investment destination. Joint efforts include packaging location offerings, updating the DIPS Investment Ready Locations database, and co-organizing informational events.

A notable upcoming event is the “Make REshift Happen” info session, which will spotlight the benefits of the Republic Act No. 11285 (Energy Efficiency and Conservation Act) and the incentives available to businesses adopting renewable energy solutions.

Moreover, Secretary Pascual highlighted the DTI’s ongoing efforts to support the continued growth of companies like FPIP through initiatives aimed at improving the ease of doing business, promoting renewable energy adoption, and fostering a favorable investment climate.

“I urge each of you to continue your investment and collaboration with us as we welcome innovative and future-ready opportunities. Together, we will continue to build a more robust, dynamic, and sustainable industrial sector, driving economic growth and improving the lives of countless Filipinos,” said the trade chief as he called on industry leaders and stakeholders to continue their investment and collaboration in the Philippines’ industrial sector.

Under its ANGAT Negosyo vision, the DTI is spearheading efforts to enhance the ease of doing business by streamlining and digitalizing institutional and regulatory requirements. These measures aim to improve the speed and efficiency of business processes, particularly for strategic investments.

In parallel, the ASENSO Trabaho thrust focuses on creating an attractive investment climate, promoting trade agreements, and facilitating partnerships between domestic and foreign businesses. These initiatives seek to diversify the country’s exports in terms of products, services, and destinations. ♦

Date of release: 17 July 2024

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