PEZA strengthens partnership with India, attracts more investors to PH
07 March 2020 (Sunday)
Pasay City – The Philippine Economic Zone Authority (PEZA) has strengthened ties with India in attracting more investors to invest in the Philippines following the courtesy visit of the Indian Ambassador to the Philippines, His Excellency Mr. Shambhu Kumaran and First Secretary Mr. Nishi Singh to the PEZA Head Office last 01 March 2021.
The visit of the Ambassador is to discuss with PEZA the business opportunities in the Philippines for Indian investors. To date, there are around 28 Indian companies registered in PEZA – 21 of which are registered as IT-BPO, five (5) as manufacturing, and two (2) under various enterprises.
According to H.E. Kumaran, “The past year has been a bit of a setback to everyone but I feel that fundamental trends indicate that the Philippine economy continue to grow positively and energetically into the future.”
“The 21st century is really the century of digital economy… and there, both India and the Philippines are very well in place to derive maximum benefit,” noted the Ambassador.
Upskilling and reskilling of workforce
Like Plaza, H.E. Kumaran cited the importance of training and transforming our workforce and the cooperation between the countries in order to meet the needs of the global market when it comes to skills. “The demographic dividends can only be realized if we do what is required – that is to train and equip [those entering the job market] to meet the challenges of the new economy,” said the Ambassador.
He explained that through upskilling and reskilling, “We will be able to work together in areas of core strengths and bring in our skills in the global job market.”
Defense and Pharmaceutical Industries
Further, the Ambassador assured support in attracting defense industries and pharmaceutical companies in the country as these are two areas where there are good possibilities.
“It’s something that we would want to get some of our Indian companies who have connected suppliers to look at. We will be engaged with you and your team [regarding this] because this is a very interesting area that you highlighted for us,” noted H.E. Kumaran.
Likewise, PEZA and the Indian Embassy will be partnering for a session under the Global Biz monthly forum to cater to Indian companies, briefing them about investment opportunities in the Philippines and attracting investors to the country.
Aside from India, PEZA is also closely coordinating with the Malaysian Embassy to host a Global Biz session solely dedicated to the Malaysian companies wanting to invest in the Philippines. This comes as the Malaysian Ambassador to the Philippines, H.E. Norman Bin Muhamad made his courtesy visit to PEZA early in February.