The Philippine Economic Zone Authority (PEZA) Director General Charito “Ching” Plaza attended the Inauguration of the Manufacturing Plant Expansion Project of Yamaha Motor Philippines, Inc., (YMPH) yesterday, February 22, 2021, at the Lima Technology Center, Malvar, Batangas. The PEZA Chief attended the said Inauguration on Monday.
The Inauguration formally marks the start of operation of the PEZA approved plant expansion with Supplemental Agreement last January 15, 2020. This is also Yamaha’s testament to their commitment to further business operations in the Philippines.
Yamaha Motor Philippines, Inc. has been with PEZA since its registration on September 5, 2007. This is part of PEZA’s aim to attract Japanese companies to locate and invest here in the Philippines.
Director General Plaza expressed her appreciation and gratitude to locator companies’ continued operations such as the YMPH for keeping the Philippines afloat and protected amidst the COVID-19 pandemic, thus preserving the welfare of our countrymen, our country’s economy, and the jobs of Filipinos.
“PEZA welcomes YAMAHA’s Expansion Project especially during this time that we are reeling from the uncertainties at hand,” Plaza said. The PEZA Chief also emphasized that PEZA has always been supportive of these relative projects as it aims to encourage locators not to leave nor transfer but to expand and continue operations in economic zones amidst the pandemic.
This is also a significant event for the YMPH President Hiroshi Koike as this is his first time setting up a new factory in the Philippines in his 34 years working in Yamaha Motor. According to Koike, with the pandemic shifting the mode of public transportation from commuting to personal use of mobility, there is an increase in the demand for automatic models. “Generating a huge number of products will result to creation of more jobs roughly about 1500 employees for old factory and additional recruitment of 1300 workforce for this newly-built factory. This is in line with our corporate social responsibility in contributing to the enhancement of the Philippine economy,” Koike said.
YMPH aims to continuously cooperate with PEZA in expanding their business in order to also fulfill the mission of Yamaha Motor Philippines which is having the highest growth in the motorcycle industry among ASEAN countries and to take pride in impressing the Filipino people by creating products that are beyond expectations.
As PEZA continues to do its best in promoting the creation of economic zones especially in the countryside, Plaza encourages locator companies to retain this in the entire nation and attain much inclusive growth for the Philippines. “We look forward to strengthening our partnership with you to achieve our goal of transforming the Philippines to become an investment haven in Asia.” PEZA Chief said.
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