The Turkish businessmen, led by Irfan Karabukut, former president of the Turkish Chamber of Commerce and Industry, were in Cebu for a seven-day investment exploration which culminated yesterday.
Thirty seven Turkish manufacturing companies operating in Guangzhou, China have expressed interest to transfer in Cebu, Batangas, and Laguna due to unfriendly environment in China.
According to Cebu Chamber of Commerce and Industry (CCCI), president Ma. Teresa B. Chan, the group met with local partners, while others are scouting for their preferred locations in Batangas and Laguna.
The 37 companies are mostly involved in agricultural machinery manufacturing, electronics, power generation, green house technology, and musical instruments manufacturing.
One of the companies involved in the transfer is said to be one of the world’s biggest builders of agricultural machineries, and plans to relocate in the new Science Park in Malvar, Batangas.
According to Chan, the Turkish capitalists expressed disappointment over the uncomfortable labor atmosphere and the rising cost of doing business in China.
A business matching event was held early this week, hosted by the CCCI, and Chan reported that there were already initial deals being agreed on.
Turkey and China relationship was recently following reports that Uighurs in China had been banned from fasting during the holy month of Ramadan.
The planned transfer of manufacturing companies will give more than 300,000 local jobs for Filipinos according to Chan.
In contrast, China will lost the same number of workforce, millions of dollars in taxes.
/Joyce Salcedo – Ceby City/