Phimo International to Invest $159.7 Million in Philippines for Tobacco Production.
According to reports, Femto International will invest $159.7 million in the Philippines to establish a production site for manufacturing heating cigarette devices and heating tobacco sticks.
Phimo International is set to produce heated tobacco sticks in the Philippines for the first time. It is estimated that over 20% of adults in the Philippines smoke. Phimo International stated that this investment will use tobacco leaves grown in the Philippines and create 220 employment opportunities.
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