Trade chief highlights role of economic zones in boosting PH investments

Department of Trade and Industry (DTI) Secretary Fred Pascual underscored the significance of economic zones in positioning the country as an attractive investment destination during the 28th Anniversary and Annual Investors’ Recognition Night held at the World Trade Center on November 22.

Pacual also recognized the top-performing economic zone developer and locator companies as a significant driving force in advancing the country’s economic growth and a key player in the global economic stage.

Highlighting the pivotal role of investors and stakeholders in fostering robust economic growth and industrial development, Secretary Pascual stressed, “On this auspicious occasion, I extend my heartfelt congratulations to the PEZA and its esteemed partners, investors, and stakeholders who have played a pivotal role in fostering our robust economic growth and industrial development.”

The DTI chief shared various initiatives to streamline the investment process, support investors, and attract investments through PEZA’s unwavering commitment since its establishment in 1995.

Underlining PEZA’s strategic importance, the trade and industry chief lauded the 422 operating ecozones nationwide, positioning the Philippines as an attractive investment destination in the region. He also boasted of attracting more Foreign Direct Investments (FDIs) in export-oriented sectors, generating billions of US dollars and spurring countryside development.

Further, the DTI Secretary presented PEZA as a prime agency among the Association of Southeast Asian Nations (ASEAN) investment destinations. He recognized the agency’s strategic and globally competitive approaches, including (1) the establishment of a one-stop shop, (2) enhanced fiscal and non-fiscal incentives, (3) improved strong bilateral relations, and (4) the development of a future-ready workforce.

Highlighting the transformative power of collective commitment towards sustainable economic progress, Secretary Pascual emphasized, “The Department of Trade and Industry stands united with PEZA and the Director General as we actively promote the Philippines as a desirable investment destination. As we embark on this journey together, we invite local and international investors to join hands with us in building a brighter future for the Philippines.”

Investors’ Recognition Day is a celebration for PEZA’s valued investors, partners, ecozone locators, and developers.

Attached to the Department of Trade and Industry, PEZA is an Investment Promotions Agency (IPA) mandated to promote investments, create employment, and generate exports for the country.