Panasonic Manufacturing Philippines Corp. has registered an investment of PHP 3 billion (USD 52 million) with the Philippine Economic Zone Authority (PEZA) to expand its manufacturing operations for the domestic market. The move marks a shift from a fully export-oriented model to a hybrid setup serving both local and international demand.
The expansion will see Panasonic manufacture electric fans, refrigerators, and washing machines at its Laguna Technopark facility, where it has operated since 2003. Domestic production is expected to commence between 2026 and 2027 and is projected to generate over 340 new jobs during the incentivized period.
PEZA said the investment reflects Panasonic’s continued confidence in the Philippines as a manufacturing base. The project qualifies for fiscal and nonfiscal incentives under the CREATE MORE Act, including a five-year income tax holiday, 10 years of enhanced deductions, and 15 years of duty-free importation of capital equipment and raw materials.
(Source: BusinessWorld)
