In the first quarter of 2014, PTIC Shanghai sent 4 big prospective Chinese garment investors to the Philippines. The companies have manufacturing bases in Shanghai, Zhejiang, Jiangsu and Anhui provinces and are considering investing outside China. PTIC Shanghai’s commercial attache accompanied the garment tycoons to prospective investment sites and factory visits in economic zones both north and south of Manila. They were very impressed with the Philippines and are currently in serious negotiations with selected economic zones. They are traveling back to Manila in the second quarter of 2014.
China is the biggest consumer, producer and exporter of garments and textiles. It is currently facing the problems of increasing wages, rising employee benefits and shortage of skilled workers, particularly in the east coast where there is a large concentration of garment factories. The Philippines, with its competitive wages, large pool of skilled and easily-trainable workers, attractive incentives and geographical proximity is a natural fit and the logical choice for China’s garment manufacturers looking to expand overseas.