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PEZA invites Filipino-Chinese investors to locate in its Ecozones

PEZA invites Filipino-Chinese investors to locate in its Ecozones
August 27, 2021
PEZA invites Filipino-Chinese investors to locate in its Ecozones

PEZA invites Filipino-Chinese investors to locate in its Ecozones

27 August 2021 (Friday)

Pasay City – The Philippine Economic Zone Authority (PEZA) has invited the Federation of Filipino Chinese Chambers of Commerce and Industry, Inc. (FFCCCII) to locate and consider PEZA as a potential investment destination, at the recently concluded Global Biz forum where the FFCCCII was featured market.

PEZA Director General Charito ‘Ching’ Plaza said “Filipino-Chinese businessmen are among the country’s big landowners enticed by PEZA to become economic zone developers and local business partners of foreign investors.”

“We aim to invite more investors to the country and replicate the multiplier effects our enterprises created by locating and even creating more ecozones in the country,” says the Director General.

At present, we have 172 Chinese locators registered under PEZA. These companies contribute PhP 24.093 Billion in investments, 196.374 Million USD in exports, and employ 10,518 workers.

Interests in doing businesses with PEZA

On the part of Filipino-Chinese entrepreneurs and enterprises, it was shared that China sees the Philippines as a feasible and a viable location for its young, skilled, English-speaking workforce, and sturdy infrastructure with various land potentials which can be further amplified with the assistance of PEZA.

FFCCCII President Mr. Henry Lim Bon Liong said, “Our federation members and many Chinese investors expressed their interests to explore opportunities to do business in PEZA ecozones especially in export-manufacturing, IT services, tourism, agro-industrial, and logistics. We believe there’s more room for PEZA to expand Chinese and Filipino investors.”

Reviving the economy

Meanwhile, the Philippine Ambassador to China, H.E. Jose Santiago L. Sta. Romana commends PEZA for its initiatives in keeping with the whole of nation’s efforts to restore the vibrancy of the Philippine economy in the aftermath caused by the COVID-19 pandemic.

Ambassador Sta. Romana said, “Promoting investments and trade is an essential function of the Philippine representation in China. Therefore, The Philippine Embassy, the Philippine Trade and Investment Center (PTIC) in Beijing as well as representative offices of the Department of Agriculture (DA) and the Department of Tourism (DOT) take every opportunity to promote the Philippines as an ideal destination for investments and trade among investment prospects here in China.”

Director General Plaza assured, “PEZA remains true to its mandate of promoting investments, creating employment, and generating exports to be able to transform the Philippines into a self-reliant, self-sustaining, and resource-generating investment haven in Asia.”

The Global Biz with the FFCCCI last August 12 was part of the back-to-back event with a Special Edition Global Biz on economic resurgence and disaster resilience for safer and investor-attractive economic zones, which was done in partnership with the Philippine Red Cross the next day, August 13.