Monday, February 6, 2012

Companies asked to move activities to the Philippines after Thai floods

TWELVE COMPANIES operating in both the Philippines and Thailand have been invited to move business activities here following the impact of the latter’s worst flood in 50 years, a Trade official said yesterday.
Thailand, however, is seen to retain most of its investments even after the disaster through competitive incentive schemes and assistance to businesses affected by the disaster.

"We have short-listed 12 [firms] -- mostly from electronics and automotive parts -- with sister companies here to move their operations here in the Philippines," Trade Undersecretary Cristino L. Panlilio told BusinessWorld in a telephone interview.

"Right now, there is one company in electronics to whom we’re talking and they’re already looking for a location here for their operations," he continued.