The Board of Investments (BOI) approved the Php 13.64 million projects of H&S Inc., and I2 Industries Manufacturing Inc. H&S Inc is an expanding export producer of children’s dresses while I2 Industries Manufacturing Inc. is a new export producer of children’s dresses, boy’s polo shirts and shorts.
H&S invested PhpP9.64 million to expand its existing facility in Binangonan, Rizal to produce an additional 150,000 dozens of dresses annually to accommodate the increasing demand of its products. The firm currently produces 31,200 dozens per year. All of its products are intended for export to the United States and eventually to South American countries. Its commercial operation began on June 2013 and is expected to provide employment to 200 personnel.
I2 Industries Manufacturing Inc. invested Php 4 million for its garment facility in San Ildefonso, Bulacan. The firm will manufacture 25,000 dozens annually of childrens’ dresses and will employ 85 people. Its commercial operation will start on August 2013. All of its production will be exported to the U.S. and Australia.
These projects fall under the Export Activities component of the Investments Priorities Plan (IPP). The current Philippine export products primarily include electronics, garments and textiles, footwear and leather goods, furniture, jewelry, marine and aquamarine, mineral products & others.
The BOI is the lead implementor of the IPP. The Plan is annually crafted to identify priority sectors that will increase investment inflows and generate more jobs.
These projects will increase export sales of the garments sector. In 2012, official figures from the National Statistics Office (NSO) showed that 2012 garments export sales registered at US$1.57 billion, down by 17% from US $1.89 billion in 2011. Latest statistics revealed that from January to April 2013, garments exports totaled US$546.90 million, a 12% decline compared to last year’s US$621.70 million*. (END)
Source: DTI Public Relations Office