Pasay City – With only a few remaining days before the national elections, the Philippine Economic Zone Authority (PEZA) on Thursday, 05 May 2022, reported the Authority’s updates, investment performance, and milestones under President Duterte’s administration in the recently concluded Special Global Biz with PEZA: Appreciation Day for media friends.
Consisted of two parts, the Global Biz conducted a press conference, a first since the pandemic started in 2020. This was then followed by the recognition of PEZA media beat reporters as partners in investment marketing and promotion.
PEZA Director General Plaza said, “As watchdogs, media correspondents ensure that our fellowmen are always informed with guaranteed transparency and the latest information on various issues, performances, and events. I warmly thank and commend all of our media friends for being the eyes and ears of the Filipino people.”
1st quarter performance
From January to March 2022, PEZA Chief Plaza shared, “Our total approved economic zone investments amounted to PhP 8.141 billion. These investments came from 29 new and expansion projects with projected annual export sales of US$ 232.454 million and expected job generation of 3,168 direct employment.”
Further, compared to the same period in 2021, export income and employment increased in the first quarter of 2022 by 10.93% and 13.72% respectively.
According to the Director General, “From US$ 9.533 billion last year, our exports amounted to US$ 10.575 billion. Likewise, from more than 1.5 million jobs in the first quarter of 2021, we now have 1,796,361 workers in our ecozones nationwide.”
The majority of the investments came from various countries namely Australia, Austria, British Virgin Islands, China, Israel, Italy, Liechtenstein, New Zealand, Singapore, Spain, Switzerland, Taiwan, and Thailand.
Meanwhile, for March 2022, the PEZA Board approved nine (9) new projects. 5 projects fall under export manufacturing enterprises, 1 for facilities, and 3 for ecozone development projects. These projects will be located such as in Laguna Technopark, Carmelray Industrial Park I, Cebu Light Industrial Park, Lima Technology Center, and Cavite Economic Zone.
During the press conference, PEZA Chief Plaza attributed the decline in investment pledges to the ongoing pandemic, the Russian-Ukraine war, and the upcoming national elections.
She mentioned, “Usually during the election period, the investors would wait for the result of the election because they already anticipated that there will surely be new policies, laws, and rules that will be adopted by the new administration.”
Nonetheless, Plaza is confident that investments will improve once the election period is over. She noted, “We expect that our investments will bounce back after the election and attain our 7 to 8% target growth for 2022.”
On WFH concerns
As PEZA continues to support the hybrid work setup, Director General Plaza urges the new administration stating, “We hope the new administration will address these WFH concerns immediately so we can [finally] put a stop to all these worries and frustrations. This is our appeal together with our locators and workers.
For now, IT-BPOs and RBEs that cannot immediately return to office (RTO) even after 01 April can request a Letter of Authority (LOA) from PEZA with the needed requirements.
Plaza said, “We are just going back to the regular ratio of our hybrid work model arrangement of not more than 30% WFH ratio. Currently, PEZA has issued 444 LOAs to registered IT-BPOs and RBEs.”
“Our investors also put their decisions [temporarily] on hold to register with us because aside from the upcoming change in our administration, our government has yet to issue the Strategic Investment Priority Plan (SIPP),” the PEZA Chief added.
This was seconded by Deputy Director General for Policy Planning Tereso O. Panga stating “PEZA’s position on WFH concerns is very clear. In the meantime, we observe the status quo.”
“Currently, there is also no official lifting yet of the state of calamity in our country which is valid until September 2022,” Panga added.
Awarding of PEZA media beat reporters
On the second part of the Global Biz, PEZA Chief Plaza together with deputy director generals Tereso O. Panga, Norma B. Tañag, and Maria Georgina Y. Afable recognized and awarded media correspondents for their active news coverage, support, and the delivery of accurate and vital news and information to the public about PEZA updates, programs, ecozone development, and investment promotion initiatives.
Director General Plaza said, “By reporting and delivery timely and factual news, you help us, our fellow Filipinos, and even foreign nationals to stay updated on current events, help make informed choices, and ensure that their voices are heard.” #