Panasonic seeks PEZA perks for Laguna plant

MANILA, Philippines - Japanese-owned Panasonic Precision Devices Philippines Corp. (PPDPC) is seeking incentives from the Philippine Economic Zone Authority (PEZA) for its manufacturing operations in Laguna.

“PPDPC, with plant site at the Laguna Technopark, has filed its application for pioneer status to be granted to its manufacture of LED (light emitting diode) lighting cooling fan, sub-assemblies and parts, based on newness of product and technology,” PEZA .

If approved, PPDPC will be entitled to income tax holiday for six years.

PEZA, attached an agency of the Department of Trade and Industry, is tasked to promote investments in the country. It extends assistance as well as grants incentives to business operations of investors engaged in export-oriented manufacturing in areas declared as PEZA special economic zones.

Aside from export manufacturing, other activities which can qualify for registration and perks are information technology service export, tourism, medical tourism, agro-industrial export manufacturing, agro-industrial bio-fuel manufacturing and logistics and warehousing services.

According to the PEZA website, there are 289 operating economic zones as of June 30 of this year.

PPDPC is part of the Panasonic Group of Companies in the Philippines, which includes Panasonic Manufacturing Philippines Corp. (PMPC).

PMPC, which is listed on the Philippine Stock Exchange, is the manufacturer, importer and distributor of electronic, electrical, mechanical, electro-mechanical appliances, other types of machines, parts and components, battery and related products bearing the brand name “Panasonic”.

Last year, the PEZA approved a total of P311.9 billion worth of investments, eight percent higher than the P288 billion approved in 2011.