One of the leading Japanese electronics company, Seiko Epson, has pulled out its plans to invest in China. The company has plans to Setup a manufacturing plant in China and hire almost 20,000 workers but due to the increasing cost of wages in China, Epson decided to divert their investments to the Philippines.
It will be the largest EPSON manufacturing plant outside of Japan, employing approximately 20,000 Filipinos by 2017.
“I think the Philippines has one of the most competitive labor cost sin the region,” Toshimitsu Tanaka, Epson’s Philippines country manager said on their annual investors forum.
Tanaka said that China and Indonesia’s labor force is becoming more expensive.
“Based on the current situation, we have no plans to expand the China factory because of labor costs. China’s labor force very, very high by almost 20 percent (compared to the Philippines),” Tanaka said. “The Philippine labor cost is stable so we can predict salary.”
Aside from having a large and cheap labor force, the English proficiency of Filipinos is also a big advantage compared to Chinese and Indonesians, Tanaka added.
According to a Singaporean Think Tank, Epson’s move to divert its investments from China to the Philippines is a sign that Japanese investors are more eager to put their money on allied nations of Japan. As China and Japan are locked on a bitter feud in the Senkaku islands.
thank you. more job local job for pinoy.
brown skinned filipinos are NOT the only people living in this country. These jobs should Not be based on the color of a person’s skin.
My loyalty for choosing Epson Printers does not put my money into waste investment. Japanese firms picks Philippines to set up their manufacturing plants that will help provide an opportunity for 20,000 jobs for the Filipinos..
DOMO ARIGATO PEOPLE OF JAPAN..
Great opportunity for Filipino laborers. Great move for Epson company.
In leadership, one has to be credibly trustworthy in order to inspire and encourage others to work with you realize your goals. Thank you Japan for the trust and faith in our workers and government. I pray for the success of your business with us Seiko Epson. Good luck Japan! Mabuhay Philippines!