Japanese Company Boosts Philippine Manufacturing with PHP1.8 Billion Investment

In a significant move to enhance its manufacturing capabilities, Japanese company P.Imes Corp. has committed an additional PHP1.8 billion to expand its operations in the Philippines. The investment will specifically target the expansion of the medical equipment suspension assembly production at the Cavite Economic Zone, as announced by the Philippine Economic Zone Authority (PEZA). On February 13, PEZA Director General Tereso Panga and P.Imes president Tetsuya Matsusaki formalized this expansion through a registration agreement. This project is set to commence operations this month and is projected to create over 200 new jobs. Beyond expanding its production lines, P.Imes is also forging partnerships with local universities to foster advanced prototyping skills among future professionals, aiming to drive innovation within the manufacturing industry. As of December 2024, P.Imes’s total investment in the Philippines stands at PHP3 billion. Japan continues to lead as the top foreign investor in PEZA, with 800 registered companies contributing PHP500 billion in investments, generating 300,000 jobs, and boosting exports by USD15 billion in 2024.