21 July 2020 (Tuesday)
Taguig City – Committed to its balancing acts to keep the Philippine economy competitive amidst best efforts by government for effective management of health situations in the country, the Philippine Economic Zone Authority (PEZA) Director General Charito “Ching” Plaza assures that “PEZA continues in its efforts to attract international investments to country and widen global linkages even during this time of pandemic.”
Ahe statement comes as PEZA signed on July 16 a Memorandum of Understanding (MOU) with 86Links, an industrial internet platform that connects enterprises and industrial parks globally.
According to the MOU signed, the parties agreed to jointly work together in the construction of the technologies, products, services and total solutions in all links of the online promotion of the economic zones and industrial parks on 86links platform and other projects in the scope of cooperation or projects.
The Director General expressed, “We feel honored that a highly distinguished online platform that provides a directory of the top economic zones worldwide recognized PEZA and graciously offered to include PEZA’s economic zones in its online roster of world-class economic zones.”
According to Plaza, “PEZA’s partnership with 86Links will now allow us to promote the Philippine economic zones around the globe, especially in the new normal brought about by the COVID-19 pandemic.”
As of May 2020, PEZA has 408 economic zones nationwide with 4,584 locator companies directly employing 1.6 million Filipino workers.
Plaza noted that, “Having PEZA ecozones posted in 86Links’ portal will greatly contribute to our investment promotion efforts, especially as we try to reach more Chinese companies and introduce to them the abounding investment opportunities that await them in the Philippines.
The partnership is likewise a development in PEZA’s efforts to attract more investment promotion partners or Ka-PIPPs.
Part of PEZA’s new 10-point program, PEZA aims to build partnership with Ka-PIPPs including international and domestic business chambers and industries associations, POs, NGOs and Socio-Civic groups to help market and promote PEZA ecozones and investment promotion programs worldwide.
Plaza shared, “PEZA is also Ka-PIPPs will also create a business-and-pleasure package, an inbound tour package for potential foreign investors to ecozones in the Philippines as well as tourism destinations.”
According to the Director General, “PEZA is now working on various MOUs with our Ka-PIPPs. This will be signed by industry associations, foreign chambers, the Union of Local Authorities of the Philippines (ULAP) as well as OFW organizations who are helping to market and promote PEZA’s Ecozones to world investors.”
Virtual Investment Forums
PEZA is now conducting a series of online investment forums to attract investors to come and invest in the Philippines and help develop the potential the country has to offer even with the COVID-19 crisis.
PEZA continues to perform its mandate to register, manage, and operate public and private economic zones in the country as well as attract both foreign and local investors to the country.
“We hope to tap every possible resource and platform which can help us promote the Philippines as the next ideal destination for Chinese and other foreign investments,” noted the PEZA Chief.