The Philippine Economic Zone Authority on Monday finalized the operation of Promet (Asia) Inc. for its P1.5 billion manufacturing operation in the country to produce safes and steel furnishings in a Pampanga economic zone.

In a statement on Tuesday, PEZA said its director general Tereso Panga and Eugeniusz Pietrow of Promet Asia Inc. formalized on 18 November the company’s registration as a new export enterprise at TECO Industrial Park, Pampanga, employing more than 150 employees.

The Promet Asia Inc. President shared that after conducting studies and due diligence scouting for possible off-shore sites in ASEAN and India, they’ve decided to invest in the Philippines as it is the most promising country for their operations and PEZA has been very helpful throughout the process.

The Pampanga facility is said to be finished by the third quarter of 2025 and will start operation by 2026, as committed by the company.

To date, the currently registered business enterprises being run by PEZA total 4,382.

World-class service

With this, the PEZA Chief said, “We welcome Promet’s investment in the ecozone, which is the first investment in PEZA with major Bahrainian equity. It is a testament to our world-class brand of service and the ecozones providing the best business ecosystem for investments.”

Employing a whole-of-industry and government approach, Panga said PEZA continues to tap into new markets and bring in new industries that will contribute to the overall growth of the country.

Meanwhile, the Department of Trade and Industry, the mother company of PEZA, also announced that Amber Kinetics, a United States-based energy storage system company, revealed its plan to further expand its operations in the Philippines and the United States.

This was shared during the visit facilitated by the Department of Trade and Industry for the Philippine Ambassador to the US Jose Manuel Romualdez.

Ambassador Romualdez pointed out that Amber Kinetics is the sole provider offering long-duration FESS that extends energy storage from minutes to hours. This cutting-edge technology provides safe, sustainable and reliable energy storage solutions for the modern grid.

Amber Kinetics

“Amber Kinetics’ investment and innovation in energy storage are transforming the Philippines’ energy landscape, driving sustainability and supporting our transition to a greener future,” Ambassador Romualdez said as he recognized Amber Kinetics’ pivotal role in building the country’s renewable energy sector.

Earlier this year, Amber Kinetics chief executive officer Edgar O. Chua said they are pouring in at least $300 million for its expansion, including a $100-million capacity expansion for the Philippines.

The company currently manufactures, assembles, and tests flywheels in its Batangas facility and demo site at De La Salle University in Sta. Rosa, Laguna where it has created the world’s first flywheel innovation hub.