Celebrating the exemplary performance of its registered business enterprises (RBEs) as the country gears towards full economic recovery, the Philippine Economic Zone Authority (PEZA) has recognized the valuable contributions of its ecozone locators and developers or RBEs in its annual Investors’ Recognition Day held on 25 November 2022.
The Investors’ Recognition Day is the biggest annual event of PEZA wherein registered business enterprises, developer-operators, and other stakeholders are acknowledged for their enormous contributions to Philippine economy as well as compliances to government regulations and for their own respective initiatives in the areas of environmental protection, labor management, and corporate social responsibility.
“Standing strong throughout the years of pandemic, we in PEZA are grateful for the continued trust and confidence of our ecozone investors,” said PEZA OIC Chief and Deputy Director General for Policy and Planning Tereso O. Panga.
Likewise, Trade Secretary and Board Chairman Hon. Fred Pascual recognized the commendable performance of PEZA and its locators. “Together with PEZA, I proudly applaud our respected and resolute investors and partners in investment promotions for your exemplary performance. You have contributed immensely to Philippine investments, export income, and creating millions of jobs for Filipinos”, he said.
Awardees of the PEZA Excellence Awards
This year, PEZA has awarded 33 registered business enterprises in the Excellence Awards – 12 under the Special Awards Category and 39 under the Main Awards.
The Trade Chief commended, “PEZA’s dynamic, responsive, and client-oriented ethics have earned the trust and confidence of investors in these zones, the local business community, and the foreign chambers of commerce in the country. Your efforts have helped shape a conducive and attractive business environment for FDIs.”
PEZA Board approval
Last Friday, the PEZA Board also approved two (2) ecozone development projects worth PHP3.628 billion and ten (10) ecozone locator projects worth PHP5.923 billion, for a total capital investment of PHP9.551 billion.
According to Secretary Pascual, sectors in the export industry such as manufacturing, IT-BPOs, agroindustries, logistics and support services, MSMEs, utility providers, and ecozone developers are the main beneficiaries of these investments.
“Your investments enable the transfer of technology, help diversify Philippine economic industries and market, boost innovations, and integrate us further to the global supply chain”, he emphasized.
Strengthening the ecozones program
In support of PBBM’s bid to transition the country to upper middle-income economy status in the immediate term, PEZA continues to strengthen its ecozone development program to cater to new industries and to promote emerging global economic zone models in the Philippines.
“We are grateful for President Bongbong Marcos Jr. for highlighting the strategic importance of ecozones and the need to promote productivity-enhancing investments during his first SONA”, said Panga.
Further, he noted, “Ecozones have served as economic shields at this time of crisis and will become as economic drivers to accelerate countryside development and economic growth.”
For his part, Secretary Pascual also explained that the government’s role is to create these rising tides that lift all. This is because an investment climate that encourages competition and stimulates economic activity benefits not only businesses but the entire population. This is a crucial role because a favorable and enabling business environment is a prerequisite of economic growth and poverty reduction.
Aside from the recognition of outstanding RBEs, OIC Panga likewise laid the Authority’s action items to further improve the ease of doing business in the ecozones and provide the best business ecosystem and constantly attract investments and sustain the growth of prominent sectors.
Some of proposed improvements include: (1) the request to revisit the CREATE Law and empower Investment Promotion Agencies (IPAs); (2) make fiscal incentives more competitive; (3) amend the 27-year-old PEZA Law; (4) reinstate the ecozone development strategy in the Philippine Development Plan (PDP); and (5) forge more strategic alliances and industry collaborations.
“Together with the support of our valued ecozone developers and locators, host LGUs, partner agencies and industries, PEZA will continue to be relevant, vibrant, and competitive as it carries out its mandate to develop ecozones (particularly in rural and new growth areas) in order to generate substantial investments, jobs, exports and other economic opportunities for the country”, expressed Panga.
OIC Deputy Director General for Finance and Administration and Promotions and Public Relations Group Manager Aleem Guiapal also said, “We congratulate our investors and thank you foremost for building communities and smart economic zones, and for the employment of estimated 1.79 million Filipino workers in various ecozones. We remain with our strategy in strengthening our investment promotions in 2023 and beyond and continue to nurture our investors for their expansion strategy.”
In closing, Secretary Pascual also mentioned that supporting PEZA and the export industry in ecozones is one of the strategic priorities of the Department under his leadership. He assured that DTI will continue to work hand in hand with the Authority to transform the Philippines as a top investment destination in the region.