The Philippine Economic Zone Authority (PEZA) is eyeing the possible influx of investors from the Kingdom of Saudi Arabia (KSA) once the Philippines subdues the coronavirus disease (COVID-19) pandemic.
“At present, there are only meager Saudi Arabian enterprises registered or located in PEZA ecozones. These companies engage in engineering, architectural and other design services, and in business process outsourcing," PEZA Director General Charito ‘Ching’ Plaza said.
"We aim to have more investors from Saudi Arabia and widen our reach for industries unique only in the Middle East,” she said.
"Once the pandemic is over, we will invite our Saudi Arabian investors to visit the economic zones where they can locate their industries once they decide to invest in the Philippines," she added.
Plaza made the remarks during an online event last Tuesday, May 25 that was attended by Adnan Villaluna Alonto, the Philippine Ambassador to the KSA and the Republic of Yemen. Other Embassy officials also took part in the meeting.
The delegations from PEZA and the Philippine Embassy discussed their partnership for PEZA’s programs under its Transformational Road Map, which include participation in the Global Biz forum.
The Global Biz with PEZA is a monthly per country investors’ forum that seeks to promote different types of economic zones as ideal locations for different types of export industries and domestic-market companies provided with new incentive subsidies for strategic and big-ticket industries and the ease of doing business in the Philippines.
“The present condition should not become a hindrance in our investment promotion efforts. Thus, we continue to create avenues for promotion and marketing in the ‘new normal’ set-up like the Global Biz," Plaza said.
The Global Biz session for KSA investors will be held on June 29, 2021, with the forum to focus on promoting the Philippines as an investment haven in Asia.
PEZA, through Promotions and Public Relations Group Manager Aleem Guiapal and his team, is closely coordinating with the Ambassador and his team led by Mr. Rommel Romato, the Consul General and Head of the Economic Division, for the event.