Chinese Bag Maker To Open Subic Factory In Third Quarter

 

Chinese Bag Maker To Open Subic Factory In Third Quarter

DXHIC, a 25-year-old company based in Guangdong, China, is opening a bag manufacturing factory in the Philippines in the third quarter of 2023, the Department of Trade and Industry said Tuesday.

Department of Trade and Industry Undersecretary Ceferino Rodolfo (fourth from left) expresses gratitude to Sloan Shao (right) and Zeng Lingcan, co-owners of a bag manufacturing company based in Dongguan, Guangdong Province in China for their decision to set up their first Philippine facility in the Philippines.

Top executives of DXHIC relayed this to DTI Undersecretary Ceferino Rodolfo at the sidelines of the 2023 ASEAN-China Greater Bay Area (Qianhai) Economic Cooperation Forum.

Shao said the Chinese company forecasts hiring up to 5,000 employees in the Philippines in the medium term.

The Philippines has been a beneficiary of the European Union’s Generalized Scheme of Preferences Plus (GSP+) and the European Free Trade Agreement.

DTI Secretary Alfredo Pascual led a mission to the European Union in June to push for the resumption of talks for the Philippines-EU Free Trade Agreement. President Ferdinand Marcos Jr. And European Commission President Ursula von der Leyen jointly announced recently the start of the scoping discussions towards a bilateral FTA.