THE Board of Investments (BoI) said Medtecs International Corp. Ltd. is planning to develop an industrial estate focused on producing e-mobility products and electric vehicles (EVs), personal protective equipment (PPE), and textiles that use tropical fibers such as abaca, bamboo, and banana.
At a meeting with the BoI on March 23, Medtecs Chairman Clement Yang said the planned industrial estate is expected to generate $1.9 billion worth of foreign direct investment and 125,000 jobs over seven years.
Mr. Yang said the project hopes to address a gap in the supply chain for textiles, including yarn, spinning, weaving, and products made from recycled polyester.
“The planned business activities of Medtecs are all listed in the Strategic Investment Priority Plan and are eligible for incentives under Republic Act No. 11534 or the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act, including the processing of green metals such as nickel for EV batteries,” Mr. Rodolfo said.
Medtecs has started producing melt-blown non-woven fabric, which is the filter medium used in medical-grade face masks. Its facility has a capacity of 25 million face masks per month. The total project cost was $600,000 and employs 15 staff.
“The project is registered with the Authority of the Freeport Area of Bataan and is located at the Medtecs Compound in Mariveles City, Bataan,” the BoI said. — Revin Mikhael D. Ochave