Taiwan targets $100m in Philippine business deals

Taiwan brought 125 companies to Manila in September as firms seek Philippine partners.

Taiwan is targeting to nearly double potential deals from its Philippine trade programme to $100m this year, as its companies seek to diversify production and expand in Southeast Asia.

“We see great potential for cooperation,” James C. F. Huang, chairman of the Taiwan External Trade Development Council, told Asian Business Review on the sidelines of Taiwan Expo 2026 in Manila on Sept. 17.

Taiwanese companies increasingly see the Philippines as a location for diversifying their supply chains because of its proximity to Taiwan, he said. He added that the Taiwan-Philippines Economic Corridor and the Luzon Economic Corridor, which seeks to boost infrastructure development and investment across the country's biggest island, complement each other.

The Taiwan External Trade Development Council brought 125 Taiwanese companies to the Philippine expo, covering technology, cities, agriculture, healthcare, and semiconductor-related industries.

“Taiwanese companies see the Philippines as one of the best opportunities for diversifying their supply-chain, and so I would anticipate that our trade investment relationship will be growing stronger and stronger,” Huang said.

The Taiwan Electrical and Electronic Manufacturers Association is considering developing an industrial park in the Philippines and has sent a delegation to northern Luzon to assess potential locations, according to Huang.

The Philippines is seeking more investment in higher-value semiconductor activities. Its industry remains concentrated in assembly, testing, and packaging, with limited participation in chip fabrication and design, the World Bank said in an April report.

Philippine Economic Zone Authority approvals also indicate stronger investment activity. The agency approved 174 projects and expansions from January through July, up 16% from a year earlier. Approved investments rose 67% to $2.42b (P151.9b) from a year ago.

Huang expects Taiwan to become a bigger Philippine trading partner. Taiwan ranked as the Philippines’ 10th-largest trading partner, ninth-biggest export market, and 10th-largest source of imports, according to Philippine Statistics Authority data as of March 26.

Huang identified healthcare, agriculture, aquaculture, manufacturing, industrial automation, edge computing, and artificial intelligence as potential areas for Taiwanese companies.
Energy could provide another source of investment as the Philippines expands electricity generation and storage.

“We have very good green energy solutions,” he said. “We are talking about wind power energy, energy storage, fuel cell energy.”

Taiwan has held its overseas expos since 2017 to connect its companies with foreign markets and potential supply-chain partners.