Setting up business operations in ASEAN [Association of Southeast Asian Nations] is a smart move. Given the 10 Member States, global companies therefore have options. However, business leaders must be discerning of which ASEAN nation to invest in by determining which specific national economic landscape can help to realize operational goals such as productivity and cost efficiency – and the Philippines may be a prime candidate here.
A CHINESE plastic packaging company has signed a location agreement with an industrial zone operator in Panabo City, Davao del Norte, the industrial zone’s operator said.
Damosa Land Inc. said Davao Zhenzhi Corp. “leased a 2,000 square meter warehouse for plastic processing at the Anflo Industrial Estate in Panabo City, Davao del Norte.
“Their products are plastic packaging for agriproduce like bananas,” Damosa Land, which signed the agreement Wednesday, said.
The company becomes the 12th locator in the industrial zone.
Earlier, Japanese company Packwell Inc. also signed a lease agreement with the company for a packaging plant.
Arturo M. Milan, Davao City Chamber of Commerce and Industry, said representatives of both locators are attending the Davao Investment Conference.
Mr. Milan said half of the 600 delegates are foreigners. Twelve of them are ambassadors and six of them are from the European Union.
He added that the entry of foreign investors is an indication of the demand for industrial zones.
“Industrial zones are important for both local and foreign companies to get attracted,” he added.