PEZA sets investment roadshow in Japan

MANILA, Philippines - The Philippine Economic Zone Authority (PEZA) is set to conduct a road show in Japan next month in a bid to attract more investments particularly in manufacturing.

PEZA director general Lilia de Lima said in a chance interview yesterday, she is set to visit Japan from Dec. 11 to 18, to promote the Philippines as an investment destination.

The seminars to be attended by representatives of various Japanese companies, would be held in cities including Tokyo, Osaka and Fukuoka.

She said there would also be one-on-one meetings with some company representatives.

“We want to attract manufacturing companies, those engaged in automotive and electronics,” De Lima said.

The roadshow is being conducted in line with the agency’s aim to encourage more firms to invest in the country, particularly in its economic zones.

The PEZA wants to attract investments in manufacturing to create jobs and allow the country to achieve inclusive growth.

De Lima said that while the agency’s move to stop approving registration of tourism, biofuel and mineral processing projects is expected to affect total investments this year, the full-year tally is still expected to be higher than last year’s.

This, as the agency expects investments for projects to be made in the fourth quarter to boost the full-year tally.

Investments registered with the PEZA have reached P153.938 billion as of end-October this year, up 2.56 percent from the P150.090 billion in the same period last year.

The PEZA has set a P299.3 billion target for the year.

Last year, total investments approved by the PEZA reached P276.126 billion, down 11.48 percent from the P311.949 billion in 2012.