Marcos hopes fiber cement firm to bring jobs to PH

VIENTIANE - At the sidelines of the 44th and 45th ASEAN Summit and Related Summits, President Ferdinand ''Bongbong'' Marcos met with executives from SHERA Public Company Limited, which is in the fiber cement industry.

This, as the firm is set to make an investment in the Philippines. With a project cost of P2.9 billion, the Thai firm's Philippine plant in Mabalacat City, Pampanga is expected to commence operations by the first quarter of 2025.

''We’re proud to welcome SHERA Public Company Limited's investment in the Philipines. As a leader in fiber cement products, SHERA isn’t just bringing eco-friendly building solutions—they’re also creating jobs and reducing our reliance on imports,'' Marcos said.

''We look forward to seeing your green innovations in action, helping the Philippines become a hub for smart and sustainable manufacturing,'' he added.

The opening of the plant aims to reduce the Philippines' import reliance and strengthen the local economy.

The company has since aimed to provide access to materials in order to build quality homes. It has expanded its scope to fiber cement materials for ceilings, walls, and decoration.

Marcos is in Lao PDR to participate in the 44th and 45th ASEAN Summit and Related Summits. In one of his interventions, Marcos highlighted that enterprises are the backbone of the member states' economies.

In his speech before the plenary, Marcos said there are over 70 million MSMEs across ASEAN, accounting for up to 99% of all businesses in the region.

''We commend the Chair’s initiatives in supporting our MSMEs. Addressing financing gaps, supporting digitalization, and enhancing the capacities of MSMEs that will enable our MSMEs to integrate into global value chains and become key drivers of regional growth,'' Marcos said.

--VAL, GMA Integrated News