At least 10 Taiwanese bicycle firms are set to invest as much as $30m in a new manufacturing park called Subic in the Philippines. The manufacturers 'clustering' at the former military base would, between them, produce whole bicycles, reports the Manila Standard newspaper.

Ten Taiwanese bike part makers invest in Philippines

A delegation, led by Philippine Trade and Industry Senior Undersecretary Thomas Aquino, is visiting Subic today, to scout for a possible location, said the newspaper.

Manila Economic Cultural Office Deputy Resident Representative to Taiwan Romulo Manlapig said:

"It is labor-intensive. The metal working industry has a very strong support industry that is why we are very keen to get them in. We are confident we are giving them a good deal, we have a competitive locator environment for them.

"Unlike in automotive where some parts are still being imported, the bicycle cluster in Subic would have 100 percent local content since all parts would be manufactured here."

Manlapig said that talks have been ongoing between the Philippine government and the Taiwanese investors for the past four to five months.

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