THE Philippine Economic Zone Authority (Peza) is inviting more Filipino-Chinese business owners to grow their business network in the Philippines.
Peza, invited the Federation of Filipino Chinese Chambers of Commerce and Industry Inc. (FFCCCII) to locate and consider Peza as a potential investment destination, at the recently concluded Global Biz forum where the FFCCCII was a featured market.
“Filipino-Chinese businessmen are among the country’s big landowners enticed by Peza to become economic zone developers and local business partners of foreign investors,” Peza Director General Charito Plaza said in a statement.
According to Peza, these Chinese locators contribute P24.093 billion in investments, US$196.374 million in exports, and employ 10,518 workers. At present, there are 172 Chinese locators registered under Peza in different ecozones in the country.
“We aim to invite more investors to the country and replicate the multiplier effects our enterprises created by locating and even creating more ecozones in the country,” said Plaza.
“Peza remains true to its mandate of promoting investments, creating employment, and generating exports to be able to transform the Philippines into a self-reliant, self-sustaining and resource-generating investment haven in Asia,” she added.
FFCCCII said China sees the Philippines as a feasible and a viable location for its young, skilled, English-speaking workforce and sturdy infrastructure with various land potentials which can be further amplified with the assistance of Peza.
“Our federation members and many Chinese investors expressed their interests to explore opportunities to do business in Peza ecozones, especially in export-manufacturing, information technology services, tourism, agro-industrial, and logistics. We believe there’s more room for Peza to expand Chinese and Filipino investors,” FFCCCII president Henry Lim Bon Liong said.
Exports, imports
According to the Philippine Statistics Authority, China is the country’s second major export trading partner with $1.06 billion in total exports in June 2021. In terms of imports, China was the country’s biggest supplier of imported goods valued at $2.25 billion.
Meanwhile, the Philippine Ambassador to China Jose Santiago Sta. Romana lauded Peza for its initiatives in restoring the vibrancy of the Philippine economy challenged by the Covid-19 pandemic.
“Promoting investments and trade is an essential function of the Philippine representation in China. Therefore, the Philippine Embassy, the Philippine Trade and Investment Center in Beijing as well as representative offices of the Department of Agriculture and the Department of Tourism take every opportunity to promote the Philippines as an ideal destination for investments and trade among investment prospects here in China,” Sta. Romana said. (JOB)