MANILA : Singapore-based Dyson Ltd., the inventor of the bagless vacuum cleaner, plans to invest 11 billion pesos in a new factory in the Philippines, the office of President Ferdinand Marcos Jr. said in a statement on Saturday.
The announcement came as Marcos was in Singapore where he met with Dyson officials, the statement said. The consumer electronics company made a decision earlier this year to invest further in the Southeast Asian country, where it has a factory producing electrical motors, it said. The new investment will cover a new plant, research and development, staff expansion and software that Dyson will need in the next two years, it said.Marcos said Dyson's investment will mean job opportunities particularly for Filipino software engineers.
In 2020, Dyson announced a S$4.9 billion global investment plan, with the money to be divided between the company's global head office in Singapore, its two campuses in Wiltshire, southern England, and the Philippines.
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