Tereso Panga, Director General of the PHILIPPINE Economic Zone Authority (PEZA), has highlighted the contribution of the tool and die industry to the economy and employment.

In his keynote speech at the 10th Philippine Die and Mold Machineries and Equipment Exhibition (PDMEX) at the World Trade Center in Pasay City on Wednesday, Panga said there are 285 projects registered with PEZA that are involved in the mold making activity.

These projects have generated a total of P23.49 billion in investments through June 2023.

AGREEMENT Philippine Export Zone Authority Director General Tereso Panga (right) shakes hands with Philippine Die and Mold Association President George Ong after signing a Memorandum of Agreement on further cooperation on August 23, 2024. ATTACHED PHOTO

“These projects contribute to PEZA’s continued positive performance. Our investments this year already total P97.163 billion, three times the amount in the same period last year,” he added.

Panga said these investments also created 35,487 jobs within the economic zones.

He said that through the collaboration between the government and the private sector, the Mold and Die Technology Support Center (MTSC) was established in the Cavite Economic Zone.

MTSC was funded by the Korean government with a grant of US$6.3 million. The program aims to train thousands of Filipino workers in CNC machining, precision tool making, mold making, and the manufacture of various dies and molds.

“Through our program, we can promote the growth of the metal, plastic and engineering sectors, which serve the needs of downstream manufacturing companies as well as the local and export core manufacturing industry,” said Panga.

Panga further said that the tool and mold industry is the backbone of small and medium-sized enterprises and a crucial pillar of industrial development.

“It is said that the design and manufacture of dies and molds is an important link in the entire production chain, since almost all mass-produced parts are manufactured using processes that use dies and molds,” he added.

Meanwhile, PDMEX 2023 will take place until August 26 and will present cutting-edge technologies, innovations and developments from 250 exhibitors from China, Singapore, Thailand, Hong Kong and South Korea.

“This exhibition is a platform for knowledge sharing and collaboration among industry professionals, experts and enthusiasts. It is a gateway to explore breakthrough solutions, build partnerships and stay updated with industry advancements,” said George Ong, President of the Philippine Die and Mold Association Inc.