MANILA — President Gloria Macapagal-Arroyo hailed today the move of Texas Instruments Inc. (TI), the world leader in digital signal processing and analog technologies, in choosing the Philippines, specifically the Clark Freeport Zone, as the site of its $1-billion expansion project that would create some 3,000 new jobs for the Filipino people.
“We look at this event as a sure sign that the Philippines found its niche as one of the best investment destinations in Asia,” the President said as she announced this morning what was touted as “one of the biggest single investments in our economic history.”
The President said it was through “strong international alliances” that the Arroyo administration was able to “forge new partnerships that have led to billions (of pesos) in investments that have created millions of new jobs,” of which “the latest big one” is TIs CFZ expansion project.
“The petition for this investment was pierced among the different possible sites in Asia, all wanting Texas Instruments to put their $1 billion in their places,” the President said as she thanked the company for finally choosing the Philippines.
The President also thanked the Filipino people “who make the Philippines an attractive place to invest in.” She assured that TI has vowed to make Clark the “most environmentally efficient assembly site in the world.”
TIs Senior Vice President for Technologies and Manufacturing Group Kevin Ritchie said the Dallas-headquartered company initially considered Vietnam, China, Thailand and the Philippines as among the site of its next expansion project, and it was trimmed down to between China and the Philippines.
Richie said TI finally chose the Philippines because of its “Baguio experience” where the Filipino worker is “industrious, loyal, skilled and fluent in the English language.”
TI has been operating in the Philippines–at the Baguio Export Processing Zone, where one of the companys most sophisticated final assembly and test sites of semiconductors is located– since 1979 or 28 years ago.
On the choice of CFZ for TIs latest expansion project, Richie said, “We like Clark very much because of the quality of education and students (there) are the same as in Baguio.”
TIs expansion project, set to start in July this year, would cover some 80,000 square meters or eight hectares of the CFZ and would open up some 3,000 new jobs for the Filipinos in a span of five to 10 years.
Trade and Industry Secretary Peter Favila said the bulk of the $1-billion investment would be poured in during the initial phase.
The Clark assembly would double the capacity of Texas Instruments in the country.
Clark Development Corp. president Liberato Laus said TIs move to locate at the CFZ would further boost the Freeport Zone as the economic haven for the Asia-Pacific region, what with the plan of TIs 500 suppliers to also set up their operations in the area. (OPS) davaotoday.com
