Business NEWS

The Philippine Economic Zone Authority (PEZA) today announced that it has signed a memorandum of agreement (MOA) with online payment gateway provider I-PAY MYEG PH (IPMPI) as the agency automates its systems and processes for easier locator transactions at its various economic zones in the country.

The Armed Forces of the Philippines (AFP) has assured the Philippine Economic Zone Authority (PEZA) its full support to its plans and programs particularly for establishing a defense industrial ecozone in military reserves.

New committed investments approved by the Philippine Economic Zone Authority (PEZA) in January this year soared 139 percent, but there are still over 300,000 workers displaced from the continued non-operation of more than 300 locators.

The Philippine Economic Zone Authority (PEZA) and the Philippine National Police have signed the Implementing Rules and Regulations (IRR) of the Joint Industrial Peace and Concern Office (JIPCO) to ensure industrial peace in various economic zones in the country.

The Philippine Economic Zone Authority (PEZA) is investigating the alleged smuggling of cigarettes into one of its economic zones in Cavite.

Investment pledges approved by the Philippine Economic Zone Authority (PEZA) for the entire 2020 reached only P95.03 billion, 19.12 percent lower than the P117.5 billion in 2019 as Filipino investments declined, constrained by the pandemic and prolonged lockdowns.

 Investment pledges approved by the Philippine Economic Zone Authority (PEZA) fell 19 percent as of November this year as the pandemic discouraged investors to expand and commit for new projects.

The Philippine Economic Zone Authority (PEZA) has given the Green, Healthy, Smart, and Sustainable Ecozone Award to Lopez-led First Philippine Industrial Park (FPIP) for its “notable commitment to promoting healthy industrialization and sustainably-designed, smart, and green economic zone.”

Dyson, the world’s leading advanced technologies firm, yesterday announced the setting up a dedicated software laboratory in the Philippines to expand its operation in the production of intelligent and advanced machines with embedded software, firming up the country’s major role in the company’s value chain.

Sixty-seven new projects with potential investments of P18.8 billion were approved by the Philippine Economic Zone Authority (PEZA) in October-November period as the government’s export-oriented investment generating arm gears up to exceed P100 billion investments level in approved investment pledges in this pandemic year.

A Saudi pharmaceutical firm is pursuing its plan to manufacture basic medicines in the country with investments of $30 million, according to the Philippine Economic Zone Authority (PEZA).

Investment pledges approved by the Philippine Economic Zone Authority (PEZA) continued to pour albeit at a slower pace, reaching P72.645 billion only as of October this year or 26.86 percent lower than the P99.322 billion approvals in the same period last year.

Prospects for the electronics sector has brighten up with Semiconductor and Electronics Industries in the Philippines Foundation Inc. (SEIPI) now projecting a 7 percent growth in 2021 and an upgraded growth projection for 2020 from negative 15 percent to only 5 percent contraction.

The Philippine Economic Zone Authority (PEZA) has launched the PEZA Academy in partnership with 29 state universities and colleges (SUCs) on top of 10 Special Economic Zone (SEZ) Institutes amid the pandemic as it strengthened skills development training program for ecozone workers and creating a pool of ecozone specialists and planners.

 An Australian based thermal coding company said it has ramped up investments to P4.4 billion for the establishment of the first thermal coding plant and back office services in the Philippines calling the country a “very well-kept secret” that it’s about time to start telling investors.

State-run Land Bank of the Philippines (LandBank) is set to release P4.3 billion worth of loans to six local government units (LGUs) for the sole purpose of buying palay directly from farmers during this harvest season.

The Philippine electronics industry suffered an estimated $4 billion loss as of August this year mainly due to the massive supply chain disruption during the pandemic, according to the Semiconductors and Electronics Industries in the Philippines Foundation Inc. (SEIPI).

The National Economic and Development Authority (NEDA) said registered business enterprises (RBEs) located in the economic zones of various investment promotion agencies (IPAs) led by the Philippine Economic Zone Authority (PEZA) have strong contributions to the domestic economy in terms of investments, exports and jobs, among others.