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SINGAPORE-BASED technology company Dyson Ltd. has pledged to invest P11 billion in the Philippines in the next two years, Malacañang said Saturday.
Presidential Communications Secretary Cheloy Garafil said the commitment was made during a meeting of President Ferdinand Marcos Jr. and Dyson officials in Singapore on Saturday.
Marcos was delighted by Dyson’s interest in investing in the Philippines, noting that the country is a good place to do business.
“So, well, let’s see with all those that we have, what we can do,” the President told Dyson officials.
Dyson has a significant number of operations already running in the Philippines.
“Three, four months ago, we made a 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 representative told Marcos.
“So we have announced a significant investment equivalent of PP11 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, noting the deal would generate 1,250 jobs and result in more job orders coming in by the middle of 2024.
Founded in 1991 by James Dyson in Malmesbury, England, Dyson is now a multinational electronics firm that makes bagless vacuum cleaners, heatless hand dryers, bladeless fans and heaters, and robotic vacuum cleaners, among others.
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