Singapore-based technology company Dyson has pledged 11 billion pesos (US$193.5 million) to invest in the Philippines over the next two years, according to a statement from President Ferdinand R. Marcos Jr's office.
The investment will see the appliance maker build a new factory and research and development centre while also expanding its staff and software in the Philippines.
“Three, four months ago, we made a decision that we want to further our investment to the Philippines by expanding our presence there and today we only have a factory producing our own electrical motors,” said Dyson’s chief executive officer Ronald Krueger.
Dyson also highlighted that the investment will generate around 1,250 jobs and is expected to move more contract manufacturing into the Philippines.
In his meeting with Krueger and Dyson officials such as Lou-ann Fitsimons and Derek Ng, President Marcos said that he was delighted to hear about the interest of Dyson Limited to invest in the Philippines which he emphasised was the right country for its investments.
President Marcos added that the investment would be interesting for the Philippines and Filipinos as it would create more jobs for software engineers and other engineering graduates in the country.
As the brand grows its presence in Asia, last year, Dyson appointed Mindshare China as its media agency. Mindshare China won the pitch and has retained this account. The agency will handle Dyson's media planning and buying activities. The agency is also tasked with eCommerce activities as Dyson has expanded the agency's duties in China.
In addition to the Dyson account, Chinese dairy products producer Yili Group extended its contract with Mindshare China and expanded its remit to help strengthen the brand's position in China.
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