The Board of Investments (BOI), an attached agency under the Department of Trade and Industry (DTI), recently revealed that the world’s biggest bicycle maker, Giant Manufacturing Co. Ltd., is in talks with the Philippine government for the possibility of establishing a manufacturing plant in the country.
INTERNATIONAL BIKE MAKER EXPRESSES INTEREST
“It (Giant) continues to be a good lead. We are looking at demand right now and what will happen. Maybe we can get Giant,” expressed BOI managing head and Trade Undersecretary Ceferino Rodolfo.
He revealed that the Taiwan-based company expressed interest in investing in the country and was already in talks with Philippine government officials even before the outbreak of the coronavirus disease 2019 (COVID-19) pandemic. The official also confirmed that discussions are continuing and that the last meeting between both parties were held in the fourth quarter of last year.
“At present, there are informal bicycle manufacturers in the country making bike parts for export. If there would be continuous strong demand for bikes, the agency could encourage bicycle manufacturers to come to the country to cater to the local market,” Rodolfo said.
Lately, there has been an increased demand for bicycles as an alternative option due to the lack of public transportation modes because of the COVID-19 pandemic.
GIANT, A GLOBAL BICYCLE ICON
Giant Manufacturing Co. Ltd., commonly known Giant, is a Taiwanese bicycle manufacturer recognized as the world’s largest bike manufacturer with production facilities in Taiwan, the Netherlands and China. The brand’s high-quality bicycles, riding gear and cycling services are distributed by more than 12,000 retail stores globally.
According to the company website, the brand was the first to use aluminum and carbon fiber in manufacturing bike frames. Its modern road racing bikes are infused with Compact Road technology while off-road performance bikes are powered by Maestro Suspension.
Giant is the latest big name that expressed interest in doing business in the Philippines. In April 2018, the Ease of Doing Business and Efficient Government Service Delivery Act of 2018 was enacted into law to streamline and fast-track transactions for business operations, both in national and local levels.
Since then, the government’s top economic managers are vigorously courting foreign businessmen to set up shop in the country’s robust manufacturing sector, one of the biggest contributors to the nation’s gross domestic product (GDP). -Louella Desiderio