PEZA investments reach ₱109 billion as of November

Published December 24, 2019, 12:00 AM

by manilabulletin_admin

By Bernie Cahiles-Magkilat

The Philippine Economic Zone Authority (PEZA), the country’s home to export-oriented investments, has generated P109.193 billion investments as of November 2019.

PEZA Director-General Charito B. Plaza said the agency’s various economic zones have also created 1,572,510 jobs overall for the same period. In terms of exports, PEZA generated $45.34 billion as of October this year. There were no comparative figures cited in the PEZA report.

“PEZA expresses our deepest appreciation to our most valued partners as you have entrusted your investments in PEZA that created employment for millions of our people and generated export revenues for our country,” said Plaza.

PEZA cited its various stakeholders, including ecozone developers, exporters, I.T., tourism, medical tourism, and agro-Industrial Enterprises—all contribute immensely to our country’s pursuit for continuing economic growth and development.

“We also acknowledge our other cherished partners from the government sector both national and local, the business sector, the diplomatic community, as well as the various business chambers and industry associations. Special mention goes to SEIPI, PHILEA, IBPAP, CONWEP, CCAP, and Joint Foreign Chambers for their continuous trust, confidence and support to PEZA and its leadership,” she said.

There are now 404 operating economic zones in the country. There are now a total of 200 ecozones composed of: 74 of these are manufacturing economic zones, 286 are IT Parks and Centers, 22 Agro-industrial Economic Zones mostly in Mindanao, 19 tourism economic zones, and 3 medical tourism Parks. Four are public ecozones while there 396 privately-developed ecozones.

The number of registered enterprises likewise increased from 313 in 1995 to 4,478 as of September 2019.

“We remain steadfast in our mandate to generate investments, employment for Filipinos, and export income for our economy. We are bolstered by the issuance of the Administrative Order No. 18 this year by President Duterte which ordered government agencies to hasten the development of special economic zones in rural areas and spread development outside of Metro Manila. It inspires us in our work that indeed ecozones are key economic drivers that immensely contribute to economic growth and easing poverty in the host areas of ecozones,” she said.

A self-reliant, self-sustaining and resource generating agency that does not receive subsidy from the government, PEZA continuously thrive to be the top IPA that contributes dividends to national government. PEZA has 10-point programs that are geared towards revolutionizing the agency to be more competitive, regionalized, and increase its performance in the coming years.