PEZA says investments top P4-T since agency’s founding

THE Philippine Economic Zone Authority (PEZA) said it has taken in P4.018 trillion worth of investments since it took on its investment promotion role 26 years ago.

“Our locator companies, whose investments, expansion projects, and reinvestments have totaled P4.018 trillion over the last 26 years,” PEZA Director General Charito B. Plaza said during the agency’s Investors’ Recognition Day 2021 on Nov. 25, as quoted in a PEZA statement Wednesday.

Ms. Plaza added that the export revenue of locators amounted to $916.53 billion or P46.16 trillion.

Locators have also created about 1.73 million direct jobs in PEZA economic zones, which it estimates are equivalent to between 5 and 8.63 million indirect jobs when the rest of the supply chain and other businesses attracted to the economic zones are considered.

Trade Secretary Ramon M. Lopez said the agency has managed to bring in foreign investors even during the pandemic.

Mr. Lopez added that the PEZA stakeholders’ investments led to 20% growth in exports as of September 2021, exceeding the growth rates recorded pre-pandemic.

“All of you are also the reason why our country, as of 3rd quarter (this year), has experienced 7% economic growth, 12% growth in the 2nd quarter, and a year to date of 4.9% growth in GDP,” Mr. Lopez told the firms.

Ms. Plaza also announced during the event that the agency’s online payment and collection system for fees is now available via mobile wallet, credit and debit card, and bank transfer channels in over 80,000 payment centers.

PEZA and the Manila Electric Co. (Meralco) also signed an agreement on Nov. 24 covering the issuance of the electronic Certificate of Final Electrical Inspection (CFEI) for PEZA companies.

“PEZA can now submit in advance a list of the approved CFEIs to MERALCO through electronic mail before the physical certificates are actually sent,” Ms. Plaza said. — Bianca Angelica D. Añago