PEZA, Philea confident of Philippines competitiveness in developing more economic zones
The Philippine Economic Zone Authority (PEZA) hosted a consultative meeting with the Philippine Ecozones Associations (PHILEA), at the PEZA head office last November 9, on the plans, updates, and key concerns on economic zone development.
In continued pursuits to execute the Agency’s mandate of attracting investments and implementing the ecozone program nationwide, PEZA Director General Tereso Panga stated, “PEZA would not have been a success story without the support from PHILEA.”
"We are more than encouraged by the pronouncement of President Bong Bong Marcos for his full support to economic zones that shall bring in strategic industries and countryside development,” the PEZA OIC chief added.
PHILEA President Francisco Zaldarriaga said, “Ecozones are developing communities as well. Part of the ecozones’ core is also community-building.”
As of October, Panga said, “PEZA currently has 13 pending economic zones that we look forward to be proclaimed by the current administration. One is already endorsed to the Office of President Marcos, while 12 are endorsed to the Department of Trade and Industry (DTI).”
“These 13 pending ecozones are expected to bring in investments amounting to P17,924,887,016.72 billion,” added Panga.
For the breakdown, there are seven pending manufacturing ecozones, two for IT Parks Centers, one for the Knowledge, Innovation, Science, and Technology (KIST) Park, and one Agro-industrial ecozone which are all located outside Metro Manila.”
Panga is confident that in 2022, “there will be an upturn as we have been getting big-ticket projects enough to recover and even surpass our 2019 [investment] levels.”
On the other hand, Zaldarriaga shared that from 1995 to March 2022, “Total investments from PHILEA ecozones is approximately P 1.13 trillion, generated $ 411 billion in exports, and employed 378,395 workers.”
According to Panga, “Just last month, the LISP closed a project with a data center with P 3.4 billion of investments. Another big-ticket investment is currently in talks with Suntrust.”
Meanwhile, at the recent investment forum in Taiwan and South Korea, the OIC Chief stated, “PEZA big-ticket projects from Taiwan and South Korea are ready to apply and register with us.”
With aggressive investment promotions, OIC Panga is confident that “The 6 to 7 percent target for 2022 is attainable and we must also continuously work with other agencies to promote the creation of more ecozones, particularly in the countryside and new growth areas.”
Zaldarriaga said, “PHILEA and PEZA are partners in nation-building.” Corporate Communications Division
