Intel, Acer, Ford to invest in the Philippines

Asia Pulse/PNA, Asia Times, 11 May 1999

MANILA—As another sign of continued investor confidence, at least two leading foreign electronics companies plan to expand their operations in the Philippines, while an automotive giant is currently setting up its new plant here, a cabinet member said.

Secretary Edgardo Espiritu of the Department of Finance said U.S.-based Intel and Taiwan-based Acer plan to expand their operations here and employ skilled Filipino workers. These firms will set up factories here, and they would create jobs. This is what we want to see, Espiritu said in a radio interview.

He said many Japanese and Taiwanese electronics firms also plan to do business in the Philippines, with many of them investing in Subic.

Espiritu pointed out that Intel, a maker of computer processors, and Acer, a maker of computers, have been operating in the Philippines for several years.

He also said U.S.-based Ford Motor Co., which is now finishing the construction of its factory in the Philippines, expects to start operating here by September.

Espiritu said the carmaker giant has promised to bring to the Philippines at least 30 locators, who in turn would recruit Filipino workers. They will be Ford's suppliers of vehicle spare parts, he explained.

He also said other foreign firms have sent representatives here to assess the business climate as well as government efforts to level the investment playing field.

They have been frequently coming here to see for themselves the business environment. We have been talking to them in groups. They are asking what the government is doing to institute market friendly reforms. They need to know these before deciding to do business here, he said.

He added that all these investments would be long-term ones, thus giving Filipinos job security.