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Business

PEZA seeks more American investors

Louella Desiderio - The Philippine Star

MANILA, Philippines — The Philippine Economic Zone Authority (PEZA) is working with the American Chamber of Commerce of the Philippines Inc. (AmCham) and the US-ASEAN (Association of Southeast Asian Nations) Business Council to entice more US firms to invest in the country.

In a statement, PEZA said it continues to work on encouraging more investors and to keep existing ones despite the COVID-19 pandemic.

PEZA director general Charito Plaza recently attended a virtual meeting of the AmCham which serves as the group’s platform for discussion of collaboration with both public and private stakeholders.

“At present and in terms of nationality, the Americans are the third biggest investors in PEZA (15.20 percent) with about 976 American enterprises employing 294,137 workers in economic zones,” she said.

She said American firms in the country are engaged in the following: call centers, business process outsourcing, software development, engineering, architectural and other design services, as well as radio, television, and communication equipment and apparatus.

Plaza also attended a recent virtual event of the US-ASEAN Business Council for the discussion of areas where US firms can support the Philippine government in its economic recovery efforts.

“Now more than ever, this US-ASEAN Business Council comes with great significance as we continue to promote the ease of doing business, enhance digital transformation and at the same time, continuously support the government’s response to the ongoing COVID-19 pandemic and to further strengthen the US-Philippines bilateral ties for regional peace and prosperity,” she said.

Plaza said PEZA is supporting the national government’s efforts toward digitalization and taking part in initiatives such as the TradeNet for online processing of import/export transactions, the central business portal for business registration and implementing digital payment solution and data integration of various data sources for easy monitoring and generation of management reports, as well as automation of client facing processes in the agency.

PEZA

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