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37 Turkish Firms from China To Relocate in Laguna, Batangas and Cebu. Must Read This!

The group of Turkish businessmen, led by Irfan Karabukut, the former president of Turkish Chamber of Commerce and Industry, was in Cebu for a seven-day investment exploration.
A total of thirty seven Turkish manufacturing companies operating in Guangzhou, China expressed its interest to transfer in Laguna, Batangas and Cebu due to China’s unfriendly environment.

According to the Cebu Chamber of Commerce and Industry (CCCI), president Ma. Teresa B. Chan, the group met with the local partners, while others were scouting for preferred locations in Batangas and places in Laguna.

The 37 companies mostly involved in the agricultural machinery manufacturing, electronics, green house technology, power generation, and manufacturing of musical instruments.

One of the companies involved in the said transfer was one of the world’s biggest builders of agricultural machineries, and plans to relocate in new Science Park in Malvar, Batangas.

According to Mr. Chan, Turkish capitalists expressed disappointment over uncomfortable labor atmosphere and rising cost doing business in China.

The planned transfer of manufacturing companies will give more than 300,000 local jobs for the Filipinos, this was according to Chan.

In contrast, China will also lost the same number of workforce and millions of dollars in taxes.

SOURCE : Kapinoy.com

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