FIRST PHILIPPINE HOLDINGS IS A CORPORATION THAT IS CONSTANTLY IN ACTION. WE’RE ALWAYS TRYING TO FIND WAYS TO DELIVER FOR OUR STAKEHOLDERS AND THE FILIPINO PEOPLE.
First Philippine Industrial Park Inc. (FPIP)’s 92-hectare expansion in Santo Tomas has received government approval.
On Feb. 14, 2014, President Benigno S. Aquino III through Presidential Proclamation No. 722 designated FPIP’s expansion project as a special economic zone (SEZ). Following the proclamation, FPIP and the Philippine Economic Zone Authority (PEZA) signed on Feb. 27, 2014, a formal registration agreement for the project to be known as FPIP II – SEZ. The agreement was signed by Edwin S. CoSeteng, FPIP president; and Lilia de Lima, PEZA director-general.
The registration agreement stipulates, among other things, the fiscal and non-fiscal incentives that FPIP and its locators will enjoy under the PEZA Law.
FPIP is a 70-30 joint venture between First Philippine Holdings Corporation (FPH), a holding company of the Lopez Group; and Sumitomo Corporation, one of Japan’s biggest conglomerates.
“We extend our gratitude to the government for its support to our expansion project. This project is timely as the Philippines is, rightfully, attracting more attention and consideration as a competitive, viable manufacturing site,“ Mr. CoSeteng said in announcing the PEZA agreement.
Located just 50 kilometers from Manila’s North and South Harbors and 48 kilometers from the port of Batangas, FPIP hosts locators who are global leaders in their respective fields and are among the world’s most popular, respected and recognized companies. B/E Aerospace, Brother, Canon, Honda, Ibiden, Murata, Nestle, Philip Morris, Shimano, and Sunpower are among the 77 locators operating inside FPIP.
Today these 77 locators have created over 40,000 jobs and other economic activity that benefits FPIP’s seven host barangays in the town of Santo Tomas and city of Tanauan, Batangas. FPIP and its locators also collaborate with town and baranggay officials on various health, education and environment projects as a member of the community, Mr. CoSeteng disclosed.
“Without the expansion, FPIP will be hard-pressed to meet the growing foreign investor demand for more space. With the expansion, FPIP’s area will increase from 350 to 442 hectares,” he pointed out.
“FPIP II — SEZ will see a further upgrading in our amenities, utilities, and services. This is the only way for us to remain relevant as we strive to meaningfully contribute to the competitiveness of our business partners in the global market,” he said.
“Close to 20 years ago, FPH Group Chairman Emeritus Oscar M. Lopez envisioned FPIP as an able partner of government in attracting foreign investment, growing and strengthening our country’s manufacturing competence — and just as importantly — creating meaningful jobs.” Mr. CoSeteng explained.
“Our FPH Chairman and CEO Federico R. Lopez has reemphasized the need for FPH companies to serve as a catalyst and enabler for the country’s continued growth, particularly in the Philippines’ industrial resurgence. FPIP as a member of a growing coalition of enterprises, institutions, and individuals, united in a desire for not only greater, but more inclusive economic growth, seeks to do more in the coming 20 years,” Mr. CoSeteng added.