PEZA courts investments from foxconn

PEZA Foxconn

The Philippine Economic Zone Authority (PEZA) will make a strong pitch to Foxconn, the world’s largest computer manufacturer and supplier to Apple, Inc., to include the country in the expansion binge in ASEAN.

PEZA Director General Lilia B. De Lima told reporters that she will be visiting Foxconn during her investment seminar in Taipei as part of the government’s continuing effort to attract the Taiwanese firm.

De Lima will be conducting an investment seminar organized by Taiwan Economic and Cultural Office in Taipei this week.

“Foxconn is among the biggest Taiwanese companies and has been expanding in China, India and ASEAN so it will be a good idea to invite them here,” De Lima told reporters.

It can be recalled that Foxconn officials already visited various economic zones in the country way back in 2014. The group was brought to various ecozones, including the country’s Freeport zones Subic and Clark, and Calabarzon areas such as Batangas, Laguna, and Cavite.

Government investment promotion agencies Board of Investments and the PEZA started courting the Taiwanese firm since 2012.

Foxconn has been mulling about relocating some of its capacities outside of its production hub in mainland China due to rising wage rate and shortage of available workers there and has included the Philippines in its shortlist of countries as investment destination.

The company employs 1.2 million at its China facilities producing laptops, tables and PCs for the export market.

Aside from the rising cost of wage, the lack of available manpower has turned off some of multinational firms, which relocated in China based on these attractions.

Foxconn is a multinational business group anchored by the Hon Hai Precision Industry Co., Ltd., a Republic of China-registered corporation headquartered in Tucheng, Taiwan.

As the world’s largest manufacturer of electronics and computer components, Foxconn mainly manufactures on contract to other companies.

Among other things, Foxconn produces the Mac mini, the iPod, the iPad, and the iPhone for Apple Inc.; Intel-branded motherboards for Intel Corp.; various orders for American computer manufacturers Dell and Hewlett-Packard; motherboards for UK computer manufacturer Zoostorm; the PlayStation 2 and PlayStation 3 for Sony; the Wii for Nintendo; the Xbox 360 for Microsoft, cell phones for Motorola, the Amazon Kindle, and Cisco equipment.

It assembles an estimated 40 percent of the smartphones, computers and other electronic gadgets sold around the world. Foxconn’s decisions set standards other manufacturers must compete with.

It has 13 factories in nine Chinese cities employing 1.2 million. Foxconn is the world’s largest maker of electronic components and the largest exporter in Greater China.  Foxconn is primarily an original design manufacturer and its clients include major American, European and Japanese electronics and information technology companies. Notable products which the company manufactures include the iPad, iPhone, Kindle, PlayStation 3, Wii and Xbox 360.

Foxconn has been identified by the Global Marketing Intelligence System (GMIS) of the Department of Trade and Industry as a potential investor.