PEZA woos Israeli companies

Published June 25, 2021, 10:42 AM

by Bernie Cahiles-Magkilat

The Philippine Economic Zone Authority (PEZA) has made a strong pitch for Israeli companies to expand in the Philippines and help boost the country’s global value supply chain.

PEZA Director General Charito B. Plaza noted at the virtual Israel Chamber of Commerce of the Philippines (ICCP) 23rd General Membership Meeting of the presence of 7 Israeli firms registered with the agency. 

According to Plaza, there are seven Israeli firms registered with PEZA have combined investments of P114.5 million and employ 201 workers and generate $1 million in exports as of March 2021.

“While these companies contribute in our vibrant economy, we aim to attract more Israeli investors in the Philippines and widen our reach for industries unique only in the Middle East,” said Plaza.

Plaza also committed to continue supporting Israeli investors in the country. “Now in the new normal and in the years to come, in the spirit of amity, mutual respect and shared hope for international peace and economic stability, PEZA is committed to fully support ICCP in its plans and programs in the years to come in the Philippines and be partners in the global supply chain,” she said.

She urged to turn threats into opportunities and create avenues to attract investors in the Philippines. With PEZA’s mantra of “thinking global and acting local”, Plaza vowed to continue to perform its mandate in totality and create platforms to explore and build new partnerships with various institutions in government and in private sector locally and abroad to promote and enhance the competitiveness of Philippine exports and investments.