THE Board of Investments (BoI) said that a Guangdong-based electronics company, Shenzhen Grandsun, is set to open two more factories in the Philippines by the end of 2025.
In a statement on Tuesday, the BoI said the two new factories of unit Grandsun Advanced Electronics (Philippines) Co., Inc., will complement the company鈥檚 audio devices production facility at the LIMA industrial park in Batangas.
Asked about the size of the investment, the BoI said in a Viber message that Shenzhen聽Grandsun did not publicly disclose the investment expected by 2025.聽
By the end of 2028, the company has a target of generating 8,000 jobs, the BoI added.
The two new factories are expected to service the US and European markets for original equipment manufacturer (OEM) products as well as house-brand Shenzhen Grandsun speakers.
The construction of the two factories is part of the second phase of Shenzhen Grandsun鈥檚 expansion in the Philippines, following the expected completion of its four production facilities this year.
鈥淲ith the expected completion of Shenzhen Grandsun鈥檚 four audio device production facilities in the Philippines this year, total investments by the Guangdong-based company will amount to more than P3 billion,鈥 the BoI said.聽
By the end of the year, Grandsun鈥檚 four audio device production facilities are projected to employ 1,000.
鈥淭he complementarity of Shenzhen Grandsun in the Philippines is a good model for other possible Chinese locators to the Philippines, as it allows a top Chinese OEM and original brand manufacturer to work with Filipino talent as they address growing global requirements of their top customers especially from the Europe and the US,鈥 Ceferino S. Rodolfo, BoI managing head and Trade undersecretary, said.
Shenzhen Grandsun supplies wired and Bluetooth headphones, Bluetooth speakers, drivers and other related intelligent devices. 鈥 Justine Irish D. Tabile聽
