The Philippine Economic Zone Authority (PEZA) is readying a contingency plan on how to attract more foreign direct investments (FDI) as more locators resume operations seven months after the quarantines.
PEZA yesterday reported 87 percent of locator companies are now operational,
Based on a survey of its ecozones between September 21 and 26, about 2,620 of companies nationwide are now in full operation.
Of that 90 percent are in manufacturing and 83 percent are in information technology/business process outsourcing.
PEZA director-general Charito Plaza said the agency will conduct roundtable discussion with House Speaker Lord Allan Velasco together with the industry associations, foreign chambers, and other stakeholders to come up with a contingency plan for the future of foreign direct investments in the country and the spreading of special ecozones to the countryside, jobs and technologies.
Plaza said in their meeting earlier this week , Velasco “showed openness to listen to the concerns and role of our export-industry and ecozones.”
Plaza also discussed with Velasco PEZA’s new concept in creating different types of economic zones which to bring peace, prosperity, lowered poverty and crime incidence with LGU hosts’ increase their income and classification and their constituents provided with jobs and better lives.”
The largest export-oriented Investment Promotion Agency in the country that regulates ecozones, PEZA is renowned for its best practices for providing a better business environment due to its regulatory transparency, no red-tape policy, and one-stop shop services for investors.
“We need to fully industrialize the country to realize President Duterte’s Ambisyon Natin 2024, that every Filipino will have jobs, and Filipinos will be in the middle state of our society,” noted Plaza.