Subic Bay Metropolitan Authority (SBMA) Chairman and Administrator Jonathan Tan (left) awards the Certificate of Registration with Incentives under the CREATE or Corporate Recovery and Tax Incentives for Enterprises Act law to Nidec Subic Philippines Corporation President Takeshi Yamamoto on Tuesday. | PHOTO: SBMA
SUBIC BAY FREEPORT — Japanese manufacturing company Nidec Subic Philippines Corporation will generate employment from its P4.2-billion expansion project in this freeport, its officials said on Wednesday, Sept. 6.
In a statement, Nidec Subic President Takeshi Yamamoto said that while their company currently has a workforce of 622, the company’s expansion project is already seen to generate close to 5,000 jobs until the last “incentivized year.”
Yamamoto led the company on Tuesday during the award ceremony of the Corporate Recovery and Tax Incentives for Enterprises Act (Create) law to the Japanese firm.
According to Yamamoto, the company chose the freeport for its expansion due to its strategic location, making it possible for them to market their product to the European Union, United States, Brazil, Korea, and China.
Nidec’s General Manager Marissa Tamayo said the company decided to expand its operations in the Philippines because of its highly skilled and resilient Filipino labor force, plus the fact that the Philippines is an English-speaking country.
The expansion project, dubbed “Project Kinematix,” aims to manufacture and assemble medium to large-sized gearboxes for industrial robotic gears.
Valued at P5.065 billion, Nidec will be exporting 100 percent of its annual production of 288,000 gearboxes overseas.
Subic Bay Metropolitan Authority (SBMA) Chairman and Administrator Jonathan Tan, who led the awarding, explained that Kinematix is a new product that is a high-accuracy gearbox used as a base, arm, or shoulder for industrial robots or auto tool changer or loader of machines.
“This is certainly a milestone for Subic Freeport as this new product will be solely manufactured by Nidec Subic,” said Tan.
He said it was the first expansion of the company outside of Japan which was made possible due to the Create law, noting that the tax incentives allowed the company to expand in the country. INQ
RELATED STORIES
Japanese firm to expand product line in Subic Freeport with P4.2B …
Japan firm to produce robot components in Subic – Inquirer.net