The Department of Trade and Industry (DTI) projects that some 10,000 jobs will be generated once the factory of Sumitomo Wiring Systems plant in Binalonan, Pangasinan becomes fully operational.
The new Sumitomo facility is located at the North Luzon Aero Industrial Park in Binalonan. The company broke ground on September 16 for its new project.
DTI has yet to reveal the total amount of Sumitomo’s investment for the new factory. The company is a leading global supplier of wiring harness, related components, and several electronic products for the automotive and office equipment industries.
Its factory in Pangasinan will manufacture wiring harness and related materials for export to Japan and North America.
DTI Secretary Ramon Lopez said the Sumitomo plant will not only “generate more jobs and employment for communities in the area, but will likewise boost the development of our wiring industry to become part of the global value chain.”.
DTI said Sumitomo’s new investment of Sumitomo is an offshoot from President Rodrigo Duterte’s visit to Tokyo, Japan in May 2019, where the Philippine delegation bagged P289-billion worth of business deals that will create 82,000 jobs in the country.
“With the introduction by Sumitomo Wiring of its patented technologies in high voltage wire harness product manufacturing operations in the country, DTI’s push for innovation and technology-driven value-added production for local industry development in the Philippines has borne fruit,” Lopez said.
Prior to this investment, the Japanese firm established a new subsidiary – the Sumi North-Philippines Wiring System, its ninth unit in the country, DTI said.
DTI Special Trade Representative (STR) in Tokyo Dita Angara-Mathay said their agency’s field office in Tokyo promotes the Philippines as a competitive hub for wiring harness production in the region.
“With eight players already operating in the country, we are expecting one more investor from Japan to join this ever-growing group of foreign investors in wiring harness manufacturing,” she added. (With PNA)