The Philippine Economic Zone Authority has formally approved the registration of Promet Asia Inc.'s P1.5 billion manufacturing facility, marking a significant development in the country's industrial landscape. The new plant, to be located in TECO Industrial Park, Pampanga, represents a major foreign investment in the Philippine manufacturing sector and is set to create substantial employment opportunities.
The facility, scheduled for completion by the third quarter of 2025, will specialize in the production of safes and steel furnishings. The project is expected to generate more than 150 direct jobs for local workers, contributing significantly to the region's employment sector. Operations are planned to commence in 2026, with the company implementing modern manufacturing technologies and processes to ensure high-quality production standards.
Promet Asia's decision to establish operations in the Philippines came after extensive market research across various ASEAN countries and India. The company's president, Eugeniusz Pietrow, cited the Philippines' favorable business environment and PEZA's supportive approach as key factors in their location choice. This investment marks the first major Bahrainian equity participation in PEZA-registered enterprises, highlighting the growing diversity of foreign investments in the country.
The manufacturing facility will be equipped with state-of-the-art machinery and technology for steel processing and fabrication. The plant's design incorporates modern safety features and environmental considerations, aligning with international manufacturing standards. The facility's strategic location in Pampanga provides excellent logistics connectivity and access to skilled labor markets.
PEZA Director General Tereso Panga emphasized the significance of this investment as a testament to the Philippines' attractiveness as an investment destination. The agency currently oversees 4,382 registered business enterprises, and this new addition strengthens its portfolio of high-value manufacturing operations. The project aligns with PEZA's strategy of diversifying its industrial base and attracting quality foreign investments.
The investment comes at a crucial time for the Philippine manufacturing sector, which is experiencing renewed growth and modernization. The project is expected to contribute to the development of local supply chains and potentially attract additional investments in related industries. The facility's focus on steel furnishings and safes addresses both domestic market needs and export opportunities.
The establishment of this new manufacturing facility is anticipated to create ripple effects throughout the local economy, from increased economic activity to knowledge transfer and skills development. Local suppliers and service providers are expected to benefit from the plant's operations, creating additional indirect employment opportunities and fostering economic growth in the region.
