Taiwan and the Philippines signed a memorandum of understanding (MOU) on cooperation in the field of intellectual property protection on Saturday at the end of a two-day bilateral economic conference in Manila.
Minister of Economic Affairs Steve Chen (
Under the MOU, both sides promised to cooperate on protecting intellectual property rights and exchanging of information and personnel.
Chen said that both sides had raised many issues during the conference, reflecting the many forms of cooperation between Taipei and Manila.
Philippine negotiators, citing Taiwan's expertise in the field of information technology, asked for help with training integrated circuit designers and encouraging Taiwanese high-tech companies to increase investments in the Philippines.
In addition to the Subic Bay freeport zone, where Taiwanese companies operating in the Philippines are concentrated, Chen said the Philippines encouraged Taiwanese businesses to set up factories at the Clark Special Zone, north of Manila.
In order to attract Taiwanese businesses, Chen said, the Philippine government agreed to give Taiwanese high-tech companies tax breaks for between six and eight years.
The Philippines also agreed to offer the staff and executives of Taiwanese companies 90-day visas in addition to their work permits.
Taiwan is the Philippines' 10th largest source of foreign investment, Chen said, adding that Taiwanese investment in the country had increased from US$193 million in 2004 to US$225 million last year.