ABS-CBN
Panasonic to invest P3 billion to build washing machines, refrigerators in Laguna
Panasonic Manufacturing Philippines Corp. is set to expand its domestic manufacturing operations in the Philippines with an investment of P3 billion, transitioning from a purely export-oriented setup to a hybrid model.
The company has registered its expansion projects with the Philippine Economic Zone Authority (PEZA), signifying its continued confidence in the country's investment climate and PEZA's policies.
Under the new plan, Panasonic will produce electric fans, refrigerators, and washing machines at its existing facility in Laguna Technopark, marking its entry into the domestic market.
This domestic market operation is slated to commence between 2026 and 2027 and is projected to generate more than 340 new jobs during its incentive period.
The PEZA registration allows Panasonic to avail of fiscal and non-fiscal incentives under the CREATE MORE Act.
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