PEZA Eyes More Investments From the US

Feb 2022

The Philippine Economic Zone Authority (PEZA) is engaging more US firms to invest in the country’s economic zones and take part in promoting stronger bilateral relations between both countries. According to the director general of PEZA, the US continues to be one of the top three biggest contributors of investments in the Philippines under PEZA.

There are 420 US enterprises registered with the PEZA, contributing PHP 400.668 billion (USD 7.2 billion) worth of investments as of the third quarter last year. These firms account for USD 6.761 billion worth of exports, and employ 330,906 workers. The investments were from the following sectors: business process outsourcing, call center operations, software development, and exports of machinery, electrical, and information technology-related equipment.

The Philippines recently amended some of its laws to attract more foreign investments in the country and allow fair competition and support economic activity. With ecozones already providing necessary infrastructure and incentives, the Philippines can engage in climate-ready investments and infrastructure, supply chain resilience, technology advancements, artificial intelligence and cybersecurity.

According to the US Embassy Charge d’Affaires, the Philippines is looking for additional investment across the board, especially in 5G, internet, clean energy, health, and health security areas.

(Source: The Philippine Star)

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