PEZA taps ACG for investment promotion

MANILA, Philippines — The Philippine Economic Zone Authority (PEZA) has teamed up with the Asian Consulting Group (ACG) to work together in promoting the country as an investment destination.

ACG, the country’s first tax hub for top corporations, said the two organizations would work together to promote the Philippines as an economic powerhouse and a place open to businesses.

ACG said the partnership shows PEZA’s commitment to actively promote the ecozones as premier investment destinations.

Part of the collaboration is the ACG’s annual International Tax and Investment Roadshow, which is set to take place this month, spanning East Asia, the Americas, Europe and Middle East, Oceania and Canada.

The 2024 International Tax and Investment Roadshow will be a venue to showcase investment opportunities available within the PEZA’s ecozones.

It will also highlight the benefits of investing in the Philippines and offer tailored solutions to meet the needs of prospective investors.

During the roadshow, there will be investment briefings, roundtable discussions, bilateral business meetings and networking opportunities to encourage firms to invest in the Philippines.

For this year, the PEZA is aiming to approve P250 billion worth of investments.

Last year, investments approved by the PEZA reached P175.71 billion, up 24.9 percent from P140.7 billion in 2022.

Earlier, the PEZA said it approved P12.09 billion worth of investments in the first two months of the year, 18.66 percent higher than the P10.194 billion in the same period last year.

The approved investments are for 28 new and expansion projects.

These are expected to generate $661.09 million worth of exports and create 3,580 direct jobs.