Santo Tomas, Batangas – The Philippine Economic Zone (PEZA) Board held its meeting at the First Philippine Industrial Park (FPIP) on Friday, 19 April 2024. A total of 73 new and expansion projects, generating PhP 29.955 Billion investments, was approved to date for the year 2024. These projects are expected to generate US$ 1,094.65 Million in exports and create 14,812 direct employment for Filipino workforce.
PEZA Director General Tereso Panga, together with Board Members, Management Officials, and FPIP Top Officials
PEZA Director General Tereso O. Panga remains positive that the progression of these projects forges and strengthens the agency’s efforts to put the Philippines in the spotlight of economic growth and prowess in the Asia-Pacific Region in line with President Ferdinand Marcos, Jr.’s advocacy in promoting the country as the smart investment choice.
PEZA Chief pointed out, “Fostering the whole of government approach with the support of our Board members from key government agencies and offices such as DOF, DOE, DILG, DOLE, NEDA, DENR, DPWH, DTI-BOI, and DOST, PEZA’s approved projects will result to mutualistic benefits for international relations, and continually champion the Philippines as Asia’s premier investment destination.”
As of April 2024, the approved projects will delve into export manufacturing, IT-BPM, facilities, logistics, domestic market, and ecozone development, which are mostly located mostly in Luzon – CALABARZON, Metro Manila, Bicol, and Central Luzon, while some in the VisMin islands – Cebu, Davao, and Cagayan de Oro.
Board-approved Projects for April 2024
A summary of the total trade statistics of the PEZA Board-approved Projects for April 2024
For the start of the 2nd quarter of 2024, 23 Board-approved new and expansion projects are on the rise and expected to lead to PhP 15.003 Billion investments. These projects are also anticipated to generate US $69.778 Million worth of exports and provide 3,254 Filipino jobs. These 23 projects encompass various types of industries, namely : 8 export manufacturing, 6 IT-BPM, 2 facilities, 1 logistics, and 6 ecozone development.
The approved new and expansion projects are located mostly in the National Capital Region, followed by CALABARZON and Central Luzon, while others are located in the Bicol, Central Visayas, and Davao regions, respectively.
Top-notch Facility Tours in Locator Companies of FPIP
The PEZA Board, along with its management officials and staff, toured the FPIP vicinity, exploring the world-class industrial park and the innovative sites of the different PEZA-registered locator companies, which have significantly contributed to the remarkable trade uprise in the Philippine economy. FPIP, being strategically located between Mt. Makiling and Metropolitan Manila, houses a variety of locator companies from leading export manufacturing and IT-BPM industries, such as Brother Industries (Philippines) Inc., Canon Marketing Philippines, Honda Philippines Inc., Sunpower Philippines Manufacturing Ltd., Shimano (Philippines) Inc., among others, with more ongoing constructions of new and expansion projects.
The short cruise was followed by the locator company-centered facility tours of Collins Aerospace Philippines and the Philippine Manufacturing Co. of Murata (Murata Philippines).
PEZA Board Members, PEZA Management Officials, and FPIP Top Officials at the Collins Aerospace Philippines facilit
Collins Aerospace General Manager Mary DeStaffan discussing the company’s history and career milestones in the Philippines
Collins Aerospace Philippines, a company specializing in the manufacturing of aircraft amenities, interior, and seats, has been one of the large contributors in the export manufacturing industry in the Philippines since 2012. Its state-of-the-art facilities manifest that the multi-talented Filipino workforce is capable of the provision of conducive avenues for aerospace industry. Currently in its second phase of expansion for added facilities identified as Module 3, Collins Aerospace takes the lead in redefining aerospace as the first aircraft seating manufacturer located in the Philippines, the sole facility in Asia. Its existing partnerships with Malaysian Airlines and Philippine Airlines, as well as its recent engagement with VietJet, proves the caliber of the products and services that Collins offers, successfully penetrating the Asian region. It has also extended efforts in locally sourcing the raw materials for production and encouraging international supplier companies to explore opportunities in the Philippine economic zones. The country’s whole of government approach, strategic location, and exceptional culture have victoriously attracted and solidified Collins Aerospace’s mark in advancing and innovating new technologies for their target markets.
PEZA Director General Tereso Panga being welcomed by Murata Philippines President Masayoshi Koda at their facility
On the other hand, The Philippine Manufacturing Co. of Murata, Inc. (Murata Philippines) is a globally renowned company specializing in the production of multi-layer ceramic capacitors utilized across various sectors, from mobile devices to home appliances, as well as automotive applications, energy management systems, and healthcare devices. With its 100% transition to renewable energy in its Philippine plant in 2022, Murata takes pride in furthering the use of renewable energy with its 6,768 solar panels installed at its rooftop in May 2011 producing a whopping 3 megawatts of power, essential in promoting business initiatives to combat climate change and adhere with their RE100 global environmental initiative.
Both locator companies strictly adhere to their safety protocol and guidelines not only for the goal of providing quality goods and services for their target markets, but also for the consistent safety and maintenance of their employees. This is a notable testament of our registered business enterprises (RBEs) of bestowing top-tier quality in products and services across stakeholders and industries.
Achievement of Goals and Expectations
PEZA’s unwavering brand of service stays true to its mandate in serving as a synergist in promoting and boosting economic opportunities and engagements of the Philippine government and providing employment opportunities for the country’s citizens. #