Author Topic: FedEx returning to PHL amid US-China trade war 容nvoy  (Read 253 times)

adroth

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FedEx returning to PHL amid US-China trade war 容nvoy
« on: November 06, 2019, 08:07:50 AM »
FedEx returning to PHL amid US-China trade war 容nvoy
Published November 5, 2019 1:41pm
By MICHAELA DEL CALLAR

https://www.gmanetwork.com/news/money/companies/714243/fedex-returning-to-phl-amid-us-china-trade-war-envoy/story/

WASHINGTON Amid the raging trade dispute between the US and China, American courier services firm FedEx is returning  to the Philippines ten years after closing its Philippine site and relocating its Asian hub to Guangzhou, China in 2009.

This time, the FedEx operations in the Philippines is going to be bigger in scale, said Ambassador Jose Manuel Romualdez.

The first phase of operations in Clark, Pampanga will start in the 2nd quarter of 2020, while the long-term and bigger site will be completed in 2024. FedEx痴 previously located in Subic Bay, Olongapo.

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More foreign companies would move to the Philippines if the restrictions on foreign ownership are relaxed, like in Vietnam which benefitted largely from the trade war with many businesses relocating there recently.

Vietnam has been offering better incentives to foreign businesses, Romualdez noted.

典he biggest obstacle is the economic barriers that we have. These should be seriously looked into. It is the ownership issue葉hey cannot own more than 40 percent, Romualdez said.

< Edited >

girder

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Re: FedEx returning to PHL amid US-China trade war 容nvoy
« Reply #1 on: November 06, 2019, 02:33:07 PM »
Some corrections:

FedEx to keep Asia Pacific hub in China, plans Clark expansion
Posted at Nov 06 2019 12:24 PM | Updated as of Nov 06 2019 12:32 PM
Quote
MANILA - FedEx on Wednesday denied reports that it would relocate its Asia Pacific hub to the Philippines from China, following an announcement made by a Filipino diplomat.

Statements released by Philippine Ambassador to the US Jose Manuel Romualdez, which "appeared to imply" that FedEx is relocating its Asian hub to the Philippines, is "unequivocally incorrect," FedEx Express said in a statement.

"FedEx is not relocating and has no plans to relocate its Asia Pacific Hub," the statement said.

The logistics firm also confirmed plans to operate in Clark to better serve customers in the Philippines and as part of its ongoing expansions in the Asia Pacific region, the company said.

FedEx said it remained committed to its consumers and employees in both China and the Philippines.
« Last Edit: November 06, 2019, 07:05:01 PM by girder »