A PRECISION manufacturing company will begin operating in the Cavite Economic Zone (CEZ) by yearend, the Philippine Economic Zone Authority (PEZA) said on Sunday.
The PEZA said that Director General Tereso Panga had signed a registration agreement with Hong Keat Ong, president of Acuvex, which fabricates jigs and fixtures.
Jigs and fixtures are specialized manufacturing devices for accuracy, consistency, and speed in the production process.
“Acuvex’s entry is another step forward in reinforcing CEZ as a hub for high-value and precision manufacturing,” Panga said in a statement.
“Each new locator strengthens the ecozone ecosystem and contributes to our vision of a competitive, sustainable, and resilient industrial base for the country,“ he added.
The PEZA said that Acuvex would complement the Cavite ecozone’s existing locators in electronics, automotive, and robotics-related supply chains while also fueling local businesses and service providers in the area.
Earlier last month, PEZA announced that it had formalized agreements with two Chinese electronics manufacturing firms, Cixin Precision Metal Products and Newly Ever Rise Technology Corp., which will also operate inside the CEZ.
Cixin is investing P40 million while Newly Ever Rise will be pouring in P20 million, the investment agency said.
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