manufacturing

Canon Business Machines Philippines (CBMP) will shut down its laser printer manufacturing plant in Batangas by June, ending Canon’s last manufacturing operation in the Philippines and potentially affecting around 1,400 workers.

The 2,600-square-meter facility, located at Golden Mile Business Park, represents an initial investment of nearly $1.2 million and is designed to produce high-performance air filtration products for international markets, primarily the United States.

Despite the challenges of demand fluctuation and the need for supply chain optimization, the manufacturing sector's resilience and strategic adjustments position it as a cornerstone of the Philippine economy.

The report said 66% of manufacturing and production organizations surveyed reported an increase in the complexity of cyber attacks.

DTI secretary Ramon Lopez noted that while the manufacturing sector was severely impacted by the pandemic in 2020, it is now leading the economy’s recovery from a recession.

Analyst firm ABI Research found that despite the nearly equal number of installed bases of AI-enabled end device in both markets, the United States has an edge over China due to its different incentives and approaches that encourage AI adoption in industrial manufacturing.

2018 is seen to be a "good year for the Philippine job market," with indications of increased hiring and job-hunting activities.