PEZA sets roadshows in Japan, Europe to attract investments

MANILA, Philippines -The Philippine Economic Zone Authority (PEZA) is planning trips to Japan as well as countries in Europe this year to attract more investments in the country’s economic zones. 

PEZA director general Lilia De Lima told reporters she is set to visit Japan next month to promote the country as an investment destination. 

“Japan is always on the list,” she said.

In Europe, she would visit Finland, Germany and United Kingdom after receiving invitations from those countries.

During the trips, she said the PEZA would encourage firms to consider making investments in manufacturing particularly of steel, electronics and automotive products.

This, as manufacturing requires big investments and will create more jobs in the country.

Apart from manufacturing, the PEZA will also promote the country’s information technology sector. 

“Our attraction is our people and economy,” De Lima said.

While many firms are becoming interested in opportunities in the Philippines, she said investors have raised concerns such as the need to develop infrastructure and address power issues both in terms of supply and high costs. 

The PEZA, an attached agency of the Department of Trade and Industry is tasked to promote investments, extend assistance, register, grant incentives to as well as facilitate the business operations of investors in export-oriented manufacturing and service facilities inside areas proclaimed by the President of the Philippines as PEZA Special Economic Zones.

It aims to grow investments registered with the agency by eight to nine percent this year by getting more manufacturing firms to pour in funds here.

Last year, investments approved by the PEZA amounted to P279.48 billion, up by 1.2 percent from P276.13 billion in 2013.