Thai stevia maker eyes PHL facility

A THAI STEVIA processing firm is looking to build a $300-million (P17.78-billion) facility in the country to support its Southeast Asian expansion, the Philippine Economic Zone Authority (PEZA) said on Tuesday.

In a statement, PEZA said the company is exploring investment opportunities in the Philippines, including the establishment of a plantation and processing facility.

The company is also selecting a 1,000-hectare site within an ASEAN (Association of Southeast Asian Nations) country to support its planned expansion.

During a Bangkok event, PEZA Director General Tereso O. Panga said it is looking to engage with Thai firms in key sectors like manufacturing, agribusiness, renewable energy, and services.

He touted the Philippines’ fiscal incentives under the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy Act.

He also cited the country’s strong investment fundamentals as a reason for Thai firms to invest in the Philippines.

PEZA also met with Information and Communication Technology (ICT) provider FiberHome International (Thailand) Co. Ltd. to benchmark its manufacturing facility for optical fiber cables, networking equipment, and ICT solutions.

This aligns with the memorandum of understanding signed by the two parties last year to explore partnerships seeking to transform PEZA economic zones into smart industrial communities.

FiberHome operates service facilities in the Philippines to ensure end-to-end fiber-optic communication, data networking, and wireless communication solutions.

“Thai companies have shown that when you invest in the Philippines, you gain more than market access — you gain a partner that values speed, stability, and sustained support,” Mr. Panga said. — Beatriz Marie D. Cruz