THE Philippine Economic Zone Authority (Peza) is inviting more Israeli investors in the Philippines for the creation of “timely” pharmaceuticals and defense ecozones.
Peza Director General Charito Plaza said the country “must attract more Israeli investors to come and bring the industries that are unique only to Israelis, especially those venturing into pharmaceutical and defense industries as these are very timely at the height of the Covid-19 pandemic.”
“We have created different types of economic zones such as the Pharmaceutical Ecozone and the Defense Industrial Complex to make use of our idle lands and cater to your industries that will in turn boost socio-economic progress in the regions,” she said in a statement.
To date, there are seven Israeli enterprises registered under Peza. These companies contribute P114.521 million in investments, US$0.255 million in exports and employ 175 workers.
Plaza emphasized that ecozones will hasten the development of the regions and achieve a more inclusive growth.
She said it is also the best and fastest economic masterplan that the national government must promote to hasten development, especially in the countryside to bounce back from this crisis.
Macairog Alberto, Ambassador of the Embassy of the Philippines in Israel, said the Philippines is strategically located in the Pacific region where “Israeli companies (and investors) can engage in end-to-end operations from training, to manufacturing, assembly, logistics and sales services at significantly low-rating costs.”
Meanwhile, Ambassador Designate of Israel to the Philippines Ilan Fluss expressed his support for Peza’s ventures, saying he looks forward to long-term collaborations and investment promotions between Israel and Peza for economic growth of the respective nations.
“As the incoming ambassador, my main goal is to promote business activities and economic relations between our two 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 to the Philippines,” Fluss said. (JOB)