00:00The Philippine Economic Zone Authority expects new investments from Taiwan.
00:04This comes after PESA signed an memorandum of understanding with one of the largest commercial banks in Taiwan,
00:10which is Cathay United Bank.
00:12This partnership aims to attract more companies to help the country to be the center for sustainable and globally competitive industries,
00:19as well as facilitate the entry of foreign direct investments in the country.
00:24This can also strengthen trade relationships between Taiwan and the Philippines.
00:28Based on the data of PESA, Taiwan ranks as the eighth largest foreign investors of the Philippine Economic Zone,
00:35with over 15 billion pesos of investment.
