Dyson committed P11B worth of investments in PH — Palace

Singapore-based multinational technology company Dyson has committed to investing P11 billion in the Philippines in the next two years, Malacañang said on Saturday.

In a statement, the Presidential Communications Office (PCO) said President Ferdinand Marcos Jr. was delighted to hear about Dyson Limited's interest in investing in the Philippines, and he emphasized that they made the right decision during his meeting with the company’s officials on Saturday.

"So, well, let’s see with all those that we have, that we can do," said Marcos.

For their part, Dyson officials told the President that they were "very proud" to be in the Philippines, as they emphasized that they have a significant number of operations in the country.

"Three, four months ago, we made the decision that we wanted to further our investment in the Philippines by expanding our presence there, and today we only have a factory producing our own electrical motors," a Dyson official told Marcos.

"So we have announced a significant investment equivalent to P11 billion into the new factory, the new R&D center … and we want to expand also in terms of staff, software, and others that we require over the next two years," the official added.

Dyson said that their investment would generate around 1,250 employees and would move more contract manufacturing into the Philippines by the middle of 2024, or the "second or third quarter" of the year.  

Responding to Dyson, Marcos said that "this will be very interesting" for the Philippines and the Filipino people, as he emphasized that their investment would mean hiring more software engineers and other engineering graduates. —VBL, GMA Integrated News