Consistent with its commitment to building the Philippines’ reputation as a major investment destination, Aboitiz InfraCapital (AIC) teams up with the national government representing the Philippine business sector to attract Korean investors at the recently-concluded Philippine-Korea Investment Forum. 

Over 80 business leaders from various manufacturing companies across Korea joined the forum, with AIC—represented by its President and CEO Cosette Canilao and First Vice President Rafael Fernandez de Mesa–locking in discussions and negotiations with Korean investors who are looking at expanding operations at AIC’s Economic Estates in Batangas and Cebu.

The Philippine Embassy in South Korea, Philippine Economic Zone Authority (PEZA), Department of Trade and Industry (DTI), Board of Investments (BOI), and Philippine Trade and Investment Center (PTIC)-Seoul organized the said gathering to guide prospective Korean and global investors on the incentives, benefits, and perks they can enjoy should they choose the Philippines as their next investment destination.

DTI Undersecretary Ceferino Rodolfo tackled the Philippine Investment Climate, specifically the country’s game-changing laws and incentives stipulated by the CREATE Law, while the BOI touched on the number of investment opportunities in the country. PEZA relayed to the Korean business delegation the process of setting up operations in the Philippines.

Meanwhile, Aboitiz InfraCapital, a leader in industrial estate development in the Philippines, showcased the pioneering smart city and sustainability initiatives that the company has incorporated and continues to build upon at its Economic Estates in Batangas and Cebu. 

In addition, Fernandez de Mesa highlighted the 240 hectares of ongoing expansions at LIMA Estate in Lipa-Malvar Batangas and West Cebu Estate in Balamban, Cebu, which sparked interest among the investors in attendance. The expansions position AIC’s Economic Estates to capitalize on the demand from Korean manufacturers looking to invest in the Philippines, and are expected to stimulate economic activity by generating up to 90,000 jobs.

At present, AIC has established a track record of promoting the Philippines as an investment hub. Its partnership with PEZA and DTI has promoted the development of economic zones to accommodate foreign investments in the Philippines. The company currently has three decades of experience in delivering innovative concepts through its mixed-use estates complemented by a mix of commercial, residential, and institutional uses. Aside from local and global accolades it received, AIC’s LIMA Estate was also awarded a 5-Star BERDE District Certification and the Leadership in Sustainable Design and Performance Award from Philippine Green Building Council (PhilGBC) for its efforts in pushing forward sustainability across its developments. These recognitions are not only a testament to the Philippines being an attractive destination for foreign investment, but also show Aboitiz InfraCapital’s expertise in developing and operating sustainable industrial estates that are at par with the highest global standards. 

“Over the past 30 years, Aboitiz InfraCapital Economic Estates has been committed to advancing industries and life, while ensuring to balance the interests of people and the planet. We have done so by upholding best practices in environmental management, social responsibility, and good governance within our Economic Estates, as well as in the communities wherein we operate,” said Fernandez de Mesa, AIC’s First VP, in front of the Korean business delegation.

AIC’s Economic Estates currently host companies from different parts of the world and have attracted investors from Japan, Indonesia, China, Europe, and America, among others.

At present, Korean companies have been thriving in the Philippines, with 251 locators across the archipelago operating in various industries such as communication equipment and apparatus, fabricated metal products, machinery and equipment, rubber and plastic products, real estate, and apparel. In total, Korean companies have invested P89.864B in the Philippines from 1995 to 2022, generated $723.603 Million in exports from January to May 2022, and generated 44,424 jobs as of June 2022.

Encouraging investment

Talking to the Korean business delegation, PEZA’s OIC- Deputy Director General for Finance and Administration Aleem Siddiqui M. Guiapal said that the current administration has been very assertive in encouraging Korean companies to invest in the Philippines, and highlighted the current push to build economic zones outside of Metro Manila. Guiapal also shared that the Philippines has been awarded the Best Economic Zone from all of Southeast Asia, emphasizing the numerous business benefits foreign investors would receive, including ease of doing business, the Philippines’ strategic location, and fiscal and non-fiscal incentives the Philippines offers in comparison to other ASEAN countries.

Canilao and Fernandez de Mesa invited the Korean business delegation to consider AIC’s Economic Estates, and the Philippines, as their next investment destination. “Our national government–especially PEZA and DTI-BOI–has always made sure that foreign investors thrive and grow when they invest in the Philippines. We at AIC have always been supportive of this pursuit, and we invite the Korean business community to invest in the Philippines,” said Canilao, AIC’s President and CEO. 

“This is just the beginning as the team has great plans to expand our footprint further and introduce new product lines, incorporate more smart city features, and implement sustainability programs in the coming years,” added  Canilao. “We do hope that the leaders of the business community here in Korea will get to visit these vibrant and thriving estates in your trip to the Philippines – and we invite you to even consider setting up your office or manufacturing facilities in one of our office and industrial zones, just like the many hundreds of businesses and locators that have happily settled there and made it their second home,” she added.

Currently, AIC’s LIMA Estate and MEZ2 Estate are home to companies involved in light to medium manufacturing, both for domestic use and export, packaging, industrial logistics & warehousing, amongst others. Meanwhile, its West Cebu Estate in Balamban hosts some of the most well-known shipbuilding firms in the world and produces some of the largest and most sophisticated sea vessels that can be found anywhere in the world.