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|15 December 2009
Philippines expects Taiwanese investment to double next year
Taiwanese investments in the Philippines are expected to double to $226 million next year, the Manila Economic and Cultural Office (MECO) was quoted by online daily GMANews.TV as saying.
Dita Angara Mathay, MECO director of commercial affairs, told visiting Filipino
journalists here $113 million in investments this year represent over 100 percent hike last year.
About half of the projected 2010 investments may come from the energy sector, MECO said.
A major Taiwanese energy company may set up power plants in the Visayas and Mindanao, and another company may engage in a biodiesel venture.
The Philippine government is also trying to lure a group of information technology investors who are keen on locating to Vietman.
Taiwanese investments for 2009 included the $60-million electric furnace of Ancku Tachung in Batangas; $40 million from TECO Electric & Machinery Co., Ltd; and the $5-million mining venture of China Bond International, Ltd in Aparri, Cagayan.
Tian Yuan Co. Ltd and Li Chien Wood Co. also embarked on a plywood business in Butuan, Mindanao while Golden Farm Co. and Nichi Nichi Food produced organic asparagus and fish liver oil, respectively.
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