Australian investments in PEZA hit P14.6 B

Published August 16, 2022, 6:17 PM

by Bernie Cahiles-Magkilat

Australian investors engaged in shipbuilding, business process outsourcing, call center, software development, engineering, architectural, and other design services have poured in P14.632 billion worth of investments, generating $351.944 million in exports, and created 43,033 direct jobs.

This was revealed by Philippine Economic Zone Authority (PEZA) OIC Deputy Director General Tereso O. Panga during the Pacific Business Meeting to the Philippines that the agency is looking forward to more non-traditional investment sources such as Australia and New Zealand under the Regional Comprehensive Economic Partnership (RCEP).

“The RCEP and other free trade agreements (FTAs) will diversify the country’s exports in terms of products and services and country destinations and enhance the country’s attractiveness to foreign investments,” said Panga.

The top Australian enterprises registered in PEZA include. Austal Philippines; ANZ Global Services and Operations (Manila), Inc.; RD Environmental Solutions, Inc.; Telstra International Philippines, Inc.; QBE Group Shared Services Limited – Philippines Branch; BHP Shared Services Philippines Inc.; PricewaterhouseCoopers Service Delivery Centre (Manila) Limited; Probegroup Philippines, Inc.; TMA Group Philippines Inc.; and Acquire Asia Pacific, Inc.

As of the same period, Panga said there are also three New Zealand companies in PEZA that are engaged in the manufacturing of rubber and plastic products, business process outsourcing, engineering, architectural, and other design services. These companies contribute P85.946 million of investments, generate $22.626 million of exports, and created 1,953 direct jobs.

The top New Zealand companies in PEZA include FSP International Corp.; PricewaterhouseCoopers Service Delivery Centre (Manila) Limited; and Revision Zero Consulting Co.

In encouraging Australian investors to the Philippines, Panga said the private businesses are encourage to develop and operate economic zones at no cost to PEZA or the government. PEZA now manages a total of 420 ecozones nationwide which hosts 4,354 locator companies, mostly export-oriented.

Aside from the traditional types of ecozones, PEZA is also looking into the development of new frontiers in ecozone development to cater to niche industries and to promote emerging global economic zone models in the Philippines such as: – Agro-Forestry Ecozones – Aquamarine Parks – Knowledge, Innovation, Science and Technology (KIST) Parks – Halal and Food Production Hubs – Pharmaceutical Ecozones – Eco-Tourism Ecozones – Defense Industrial Complexes – Renewable Energy Parks – Mineral Processing Zones