JAPANESE medical instrument manufacturer Kaneko Medix, Inc. has registered with the Philippine Economic Zone Authority (PEZA) to operate at an economic zone in Batangas, PEZA said.
In a statement, the investment promotion agency (IPA) said it signed a registration agreement with the Kaneko group’s Philippine unit, which intends to manufacture microcatheters at the First Philippine Industrial Park (FPIP) in Sto. Tomas, Batangas.
“This agreement marks a significant step forward in the country’s industrial and economic growth, particularly in the medical instrument manufacturing industry,” it added.
The Kaneko project is one of the pledges secured by Director General Tereso O. Panga during the IPA’s investment mission to Tokyo in September 2023.
“The inclusion of Kaneko as one of the locator companies in FPIP emphasizes our commitment to attracting high-tech manufacturing investments and fostering a conducive environment for technological advancement,” PEZA said.
“The establishment of the manufacturing plant in FPIP is expected to significantly contribute to the global supply chain,” it added.
Japanese registered business enterprises (RBEs) overseen by PEZA account for 28% of all approved economic zone investments.
Last year, the IPA’s Japanese RBEs generated more than P500 billion in investments, $16 billion worth of exports, and 300,000 direct jobs. — Justine Irish D. Tabile