A new locator in the Mactan Economic Zone has invested over P44 million in a manufacturing facility, generating approximately 200 jobs and reinforcing the Philippines' push to expand high-value manufacturing.
Investment and Job Creation
The Philippine Economic Zone Authority (PEZA) announced via its Facebook post that the newly inaugurated manufacturing plant of Oakwave Cebu Corp. will produce wiring and wiring devices for automotive parts, strengthening the country's role in global supply chains.
PEZA Director General Tereso O. Panga said the investment reflects sustained investor confidence in Philippine economic zones, particularly among long-term locators. He reiterated the agency's commitment to streamlined processes and investor support through its “no red tape, only red carpet” policy.
Industry Perspectives
Oakwave Japan president Tomoyuki Soneya expressed satisfaction with the company's decision to expand in the Philippines, highlighting PEZA's role as a reliable partner. Meanwhile, Oakwave Cebu president Jun Satoh underscored the strengths of the Filipino workforce, noting its adaptability and technical capability.
The project adds to the growing pipeline of export-oriented investments in Cebu, with industry officials pointing to continued demand for electronics and automotive components despite global uncertainties.
Shift to Higher-Value Manufacturing
In an interview during his recent visit to Cebu, Panga said the Philippines is gradually moving away from labor-intensive, low-margin industries toward more advanced manufacturing and technology-driven sectors. He added that they are seeing increased interest from companies engaged in higher-value activities such as electronics, advanced manufacturing, and export-oriented production integrated into global supply chains.
Panga noted that the exit of some companies from economic zones is being offset by the entry of larger, higher-value investments, underscoring a structural shift toward more sophisticated industries. He described the trend as a natural part of business cycles, emphasizing that closures are increasingly being replaced by firms that generate greater export value and higher-quality jobs.
“It happens in business — you win some, you lose some. But what is good is whenever we lose some companies, we get new ones, and bigger ones with higher-value investments,” he said.
