PEZA, Israeli investors pursue cooperation on Defense and Pharmaceutical Ecozones Creation
27 August 2021 (Friday)
Pasay City – Staying true to its mandate despite the pandemic, Philippine Economic Zone Authority (PEZA) Director General Charito ‘Ching’ Plaza has invited more Israeli investors to the Philippines and explore more investment opportunities in the economic zones during the Global Biz featuring Israel last Wednesday, August 18.
Director General Plaza said, “Ecozones will hasten the development of our regions and achieve a more inclusive growth. This is also the best and fastest economic masterplan that national government must promote to hasten development especially in the countryside and bounce back from this crisis.”
Israeli Investors in PEZA
To date, there are seven (7) Israeli enterprises registered under PEZA. These companies contribute PhP 114.521 Million in investments, 0.255 Million USD in exports, and employ 175 workers.
The PEZA Chief emphasized, “We must attract more Israeli investors to come and bring the industries that are unique only to Israeli especially those venturing into pharmaceutical and defense industries as these are very timely at the height of the COVID-19 pandemic.”
“We have created different types of economic zones such as the Pharmaceutical Ecozone and the Defense Industrial Complex to make use of our idle lands and cater to your industries that will in turn boost socio-economic progress in the regions,” she added.
This has likewise been supported by H.E. Macairog Alberto, the Ambassador of the Embassy of the Philippines in Israel, who was present during the event. He said, “The Philippines is strategically located in the [Pacific] region where Israeli companies [and investors] can engage in end-to-end operations from training, to manufacturing, assembly, logistics, and sales services at a significantly low-rating costs.”
Advantages of Israeli investors locating in the Philippines
Aside from the opportunities for investors in the economic zones, several stakeholders of PEZA also shared their testimony about the advantages of being registered with PEZA.
AXADRA Ventures, Inc. President Mr. Bernardo San Juan noted, “Working with PEZA is straightforward, transparent, and offers ease of access to decision-makers with minimal bureaucracy. What we love about PEZA is that their values are similar to ours.”
Mr. San Juan also highlighted that, “Because of the incentives that PEZA gives, it allowed us to invest in technology where we were able to automate a lot of our workflow which is a gamechanger for us. It allows us to quadruple our revenue without necessarily adding manpower.”
These statements have likewise been seconded by Mr. Clifford Academia, the AVP for Operations of LIMA Land, Inc., and the Israel Chamber of Commerce in the Philippines (ICCP) President Mr. Yoray Ofek.
According to Mr. Academia, “The tried and tested formula of PEZA has been instrumental in our decision to invest in our already saturated Southern Luzon industrial zone landscape.”
Meanwhile, Mr. Ofek noted that “PEZA is your [best] partner to locate offices, to recommend to people who comes here from different market segments, and to invest [in the Philippines] by doing it in the right way. There is a place for everyone such as in medical, IT-BPO, and defense complexes.”
More collaborations with PEZA
Furthermore, the Ambassador Designate of Israel to the Philippines, H.E. Ilan Fluss, has shared his support for PEZA’s ventures as he expressed his excitement for long-term collaborations and investment promotions between Israel and PEZA for economic growth on their respective nations.
Ambassador Fluss said, “As the incoming Ambassador, my main goal is to promote business activities and economic relations between our two (2) countries. Israel is the source of innovation, technology, and high-tech entrepreneurship with a lot of experience and expertise. Which is why, Israel would like to share these to the Philippines.”
Director General Plaza has expressed gratitude for the continued support and collaboration between the two countries despite the present challenges. “We will continue to make opportunities out of these difficulties in order to achieve our goal of making the Philippines a self-reliant, self-sustaining, and resource-generating investment haven in Asia,” she noted.
PEZA is also gearing up to hosting a Global Biz forum featuring Malaysian investors in partnership with the Embassy of the Philippines in Malaysia and its counterpart embassy in Manila this September 2021.