Japanese Firms Commit to Continued Investments in Philippine Manufacturing and Infrastructure
Japanese manufacturers, including Toyota and Minebea Mitsumi, reaffirm their investment in the Philippines amidst challenges like power costs and infrastructure. Toyota has increased local sourcing of car parts to 64%, but still imports 40% from Thailand and Indonesia. Minebea Mitsumi is expanding with a new semiconductor facility in Cebu. Meanwhile, SHERA Public Company plans to expand in Pampanga to establish a fiber cement export hub.
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Japanese manufacturers are committed to investing in the Philippines despite challenges such as high power costs, inadequate infrastructure, and supply chain issues. Toyota Motor Philippines reports local sourcing of car parts has risen to 64%, yet 40% of components are still imported.
Minebea Mitsumi is expanding its operations by constructing a semiconductor facility in Danao, Cebu, emphasizing the need for improved infrastructure and government support. SHERA Public Company is also planning to expand in Pampanga to use the Philippines as an export hub for fiber cement products.
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