President Ferdinand R. Marcos Jr. on Monday invited technology startups and other industry players to consider the Philippines as an investment destination.

During the inauguration of the PhP7-billion StB Giga Factory in New Clark City, the President underscored the country’s talent pool and readily available infrastructure to turn their ideas into reality.

President Marcos led the inauguration of StB Giga Factory, the first manufacturing plant in the Philippines for advanced iron phosphate batteries often used in renewable energy and electric vehicles (EVs).

The President said this will set the stage for the country to become a key player in clean energy storage in Southeast Asia.

“And to the rest of us, I will say, do not blink. Change is happening faster than you think,” the President said during the launching.

“So, if you are an entrepreneur, a startup, an industry leader wondering where to place your next big bet, look no further. We have the talent, certainly the determination, and now, the infrastructure to make your boldest ideas a reality,” he said.

With Monday’s inauguration, Marcos said the Philippines sends a message to the world that the country is ready—to innovate, to lead, and to become the go-to destination for high-tech, high-impact investments.

Once the factory reaches full capacity, President Marcos said it’s expected to channel PhP5 billion into the local economy annually and create 2,500 jobs for Filipinos—from engineers and technicians to administrative personnel.

When StB Giga reaches full capacity by 2030, it will produce two gigawatt-hours of batteries annually, equivalent to around 18,000 electric vehicles or almost half a million home battery systems.

Funded by the StB Capital Partners, a venture capital firm based in Brisbane, Australia, the factory will start commercial operation this October. | PND