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Taiwanese investors show interest in Marikina City

Wednesday, June 11, 2008 [ manilatimes.net ]

Six Taiwanese investors on Tuesday expressed their intention to put up a shoe manufacturing plant in Marikina City because of growing labor costs and more strict policies in the People’s Republic of China.

In a statement, the Marikina city government said the investors from Taiwan’s footwear industry visited the country for a trade mission recently.

The delegation was composed of several officers of the Taiwan Footwear Manufacturers Association, namely: Lin Chao Chieh, president; Kung Fan Zion, secretary-general; Huang Pei Fang, secretary; and several of its members, Lee Chin Shan, Yeh Chao Ming and Hsiao Yu Hsien.

They accepted the invitation of Chairman Tomas Alcantara of the Manila Economic and Cultural Office to study possible investments in the country.

In an interview, Mayor Marides Fernando of Marikina City said that with the growing labor cost and stricter policies in China, the Taiwanese footwear manufacturers are seriously looking at other Asian countries to relocate several of their factories.

She said that since Marikina is known as the “shoe capital of the Philippines,” the investors spent a day touring the city looking at shoe factories, scouting for properties that they could lease and even business partners that they could venture with.

Fernando briefed the investors about the prospects of setting up a business in the city, enumerating Marikina’s competitive edge.

“They got impressed with the city’s track record of being efficient and business-friendly,” Fernando said.

She added that the Taiwanese investors have shown keen interest in making Marikina the future home of their shoe businesses.

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