MANILA, Philippines — ACUVEX Corp. is investing P3 million in Cavite to manufacture tools for industrial production, according to the Philippine Economic Zone Authority (PEZA).
In a statement, the PEZA said ACUVEX is making the initial investment for the fabrication of jigs and fixtures in the Cavite Economic Zone (CEZ).
A registration agreement was signed by PEZA director general Tereso Panga and ACUVEX president Hong Keat Ong on Sept. 29 to formalize the firm’s entry as a new export enterprise.
The firm’s project is expected to begin by the end of the year.
“ACUVEX’s entry is another step forward in reinforcing CEZ as a hub for high-value and precision manufacturing,” Panga said.
By targeting the precision manufacturing sector, the PEZA expects ACUVEX’s project to complement existing CEZ locators in electronics, automotive and robotics-related supply chains.
It is also expected to support local businesses and service providers within the ecozone.
Beyond strengthening CEZ’s position as a hub for advanced manufacturing, the project supports PEZA’s aim to promote inclusive growth by positioning the Philippines as a hub for investments.
“Each new locator strengthens the ecozone ecosystem and contributes to our vision of a competitive, sustainable and resilient industrial base for the country,” Panga said.
PEZA investments jumped by 34 percent to P154.7 billion from January to September compared to last year’s P115.89 billion. For this year, the PEZA’s target is to approve at least P235 billion worth of investments.
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