FMIC urges Taiwan investors to explore opportunities in Phl

MANILA, Philippines — First Metro Investment Corp. (FMIC), the investment banking arm of the Metrobank Group, urged Taiwanese institutional investors to explore and take advantage of business opportunities in the Philippines.

FMIC president Rabboni Francis Arjonillo said Taiwanese investors can find a lot of investment opportunities in the country.

“On the heels of the New Southbound Policy initiative of Taiwan President Tsai Ing-wen, we are providing a platform for Taiwanese institutional investors to explore emerging developments and investment opportunities in the Philippines, including the highly sought after infrastructure projects,” he said during a recent investment forum held at the headquarters of the Taiwan Academy of Banking and Finance in Taipei City.

The forum, in partnership with the Taiwan Academy for Banking and Finance, Taiwan External Trade Development Council, the Taiwan-ASEAN Business Council and Metrobank, promoted the Philippines as one of the most dynamic economies and investment destinations in Asia. 

Arjonillo said Taiwan is the third largest foreign investor in the Philippines and trade links with Taiwan are getting more robust each day.

Specifically, he said Taiwanese investors can take advantage of President Duterte’s golden age of infrastructure where four sectors have already taken center stage  — cement, power, utilities and logistics.

The cement industry is the most obvious beneficiary with a projected 13 percent growth in demand until the end of Duterte’s term, Arjonillo said.

To match the demand growth, suppliers need to add 12 million metric tons of additional capacity through 2020.  In energy, meanwhile, one of the biggest power generators, Aboitiz Power, is doubling its energy capacity to 4,000 megawatts in three years from the current 2,000 MW.

“We are hoping Taiwanese investors will take advantage of these business opportunities,” said Arjonillo, adding that FMIC will be more than happy to assist them.

The Taiwan External Trade Development Council vice chairman Suo-Hang Chuang, said the New Southbound Policy of Taiwan could not have come at a better time as the Philippines experiences an economic boom with very young demographic structure and high power consumption. 

“The Philippines is an important gateway to the ASEAN market,” said Chuang. 

Philippines is the second largest export partner of Taiwan among ASEAN countries.