The Federation of Filipino Chinese Chamber of Commerce and Industry, Inc. (FFCCCII) said more Chinese investors are interested in exploring business opportunities in Philippine economic zones.
“Our federation members and many Chinese investors expressed their interests to explore opportunities to do business in PEZA (Philippine Economic Zone Authority) ecozones, especially in export manufacturing, IT services, tourism, agro-industrial, and logistics,” FFCCCII President Henry Lim Bon Liong said in a statement Friday.
PEZA Director-General Charito B. Plaza said the agency is inviting more investors to locate in its ecozones, including those from the Filipino-Chinese business community, noting that they are among the country’s “big landowners.”
“We aim to invite more investors to the country and replicate the multiplier effects our enterprises created by locating and even creating more ecozones,” Ms. Plaza also said.
There are currently 172 Chinese locators registered with PEZA, according to the agency.
“These companies contribute P24.093 billion in investment, $196.374 million in exports, and employ 10,518 workers,” it said.
Also Friday, PEZA said it invited more Israeli investors to explore more opportunities in its economic zones.
“Ecozones will hasten the development of our regions and achieve more inclusive growth. This is also the best and fastest economic masterplan that national government must promote to hasten development especially in the countryside and bounce back from this crisis,” Ms. Plaza said in a separate statement.
Seven Israeli businesses are registered with PEZA. “These companies contribute P114.521 million in investment, $0.255 million in exports, and employ 175 workers,” the agency said.
“We must attract more Israeli investors to come and bring the industries that are unique to Israeli especially … pharmaceutical and defense industries,” Ms. Plaza said.
“We have created different types of economic zones such as the Pharmaceutical Ecozone and the Defense Industrial Complex to make use of our idle land and cater to industries that will in turn boost socio-economic progress in the regions,” she added.
Ambassador Designate of Israel to the Philippines Ilan Fluss said: “As the incoming ambassador, my main goal is to promote business activities and economic relations between our… countries. Israel is the source of innovation, technology, and high-tech entrepreneurship with a lot of experience and expertise. Which is why, Israel would like to share these with the Philippines.” – Arjay L. Balinbin
