TANAUAN, Batangas, Philippines — President Benigno S. Aquino III graced the opening here last Oct. 3 of a factory of B/E Aerospace Inc., thanking the company for choosing the Philippines over other locations.
“Events like this are road signs along the path to progress. They tell us that we are going in the right direction — that the world is beginning to acknowledge the long-overlooked talents of the Filipino worker,” the President said in a speech during the event.
He noted that such events mean new job for Filipinos and more gains for the country’s economy. He expressed his gratitude to the B/E Aerospace Inc. for investing big money in the country, noting that the Batangas facility is the first outside the United States and Europe.
The Philippines, chosen from the shortlist of six countries as a location of the factory, is a testament that it is becoming a truly competitive destination, he said.
The President also said that with the start of the B/E Aerospace’s operation in the Philippines, the country regains a foothold in the manufacturing sector, especially in aircraft components manufacturing.
More foreign investors have been coming in, the President said, adding that AG&P, also located in Batangas, has invested in the Philippines to manufacture large oil, gas and mining modules. Other companies invested in shipbuilding, he said.
The President also cited the progress of the country’s aviation sector, noting the factors that sustain these developments. Investors are coming to the Philippines because of its highly skilled, English-speaking workforce, the government policy that level the playing field for businesses and the assurance of a corruption-free bureaucracy, he said.
“Our administration is as committed as ever to honesty and transparency. We will not misplace your confidence, and we will certainly not betray the trust of our workers,” Aquino said.
B/E Aerospace Inc., which planned to invest $100 million in its Philippine facility, is starting its operations with 200 employees. The company plans to increase its workforce to 500 next year and to 1,000 workers in the next three years.
The company is one of the world’s leading manufacturing of aircraft passenger cabins interior products for commercial, business and military aircraft. It is also a major distributor of aerospace fasteners.