NATION
Sazgar CEO highlights Philippine investment opportunities
Executive encourages foreign investors as Biñan plant opens
BIÑAN CITY, Laguna — Sazgar Philippines Inc. president and chief executive officer Muhammad Fahim encouraged foreign investors to explore business opportunities in the Philippines as the vehicle manufacturer inaugurated its local production facility.
In an interview, Fahim described the Philippines as “one of the best” places for investors to establish businesses and pursue opportunities.
His remarks came as President Ferdinand Marcos Jr. inaugurated Sazgar’s manufacturing and assembly plant in Biñan City on Thursday, 29 October.
The facility is designed to assemble approximately 12,000 three-wheeled vehicles annually, with electric models accounting for 60 percent of its initial production mix and internal combustion engine models making up the remainder.
During the inauguration, Marcos urged the company to expand its use of Philippine-made components so more domestic suppliers and workers could benefit from the investment.
The President identified batteries, glass, seat foam, upholstery, rubber and lubricants as potential opportunities for local suppliers.
Marcos said the company anticipates being able to produce all its parts locally within about a year, pledging government cooperation toward that goal.