Marcos meets Thai firm to welcome PHP2.9B investment

President Ferdinand 'Bongbong' Marcos met with executives from SHERA Public Company Limited during the 44th and 45th ASEAN Summit in Laos to welcome their plan to invest PHP2.9 billion in the Philippines.

SHERA, a Thai firm in the fiber cement industry, aims to build its plant inside TECO Industrial Park in Mabalacat City, Pampanga, with operations expected to start by the first quarter of 2025 and employ around 120 to 150 full-time workers.

Marcos expressed enthusiasm for SHERA's investment, noting its potential to create jobs and reduce import reliance while promoting sustainable manufacturing, highlighting the company’s green credentials and AI-driven fiber cement boards.

The project will not only cater to local demand but also export products to Taiwan, South Korea, and parts of North Asia and Oceania, enhancing the Philippines' position as a production hub for SHERA.

In his speech at the summit, Marcos highlighted the importance of MSMEs in ASEAN economies, emphasizing the need to support their integration into global value chains.