PEZA lures more South Korean investments

A trade delegation to South Korea led by the Philippine Economic Zone Authority and the Aboitiz InfraCapital attracted interest from investors in the region, with the mission expecting five new locators in the ecozone.

The five-day investment mission held a successful "Philippine-Korean Investment Forum" that highlighted the country as an investment haven in Asia. The mission also strengthened the trade and economic ties between both countries.

"This is a response to the call of President Bongbong Marcos to increase our FDI. An increase in investment means more jobs for Filipinos. And more jobs mean a better quality of life for our kababayans.
This is what the investment forum is all about," PEZA OIC deputy director general for Finance and Administration and Promotions and Public Relations Group manager Aleem Siddiqui Guiapal said.

The Department of Trade and Industry, the Board of Investments, and the Philippine Trade and Investment Center-Seoul also joined the forum.

"PEZA is eagerly conducting investment promotion in the last quarter of 2022 to sustain the approved P40 billion of investments from January to September 2022," Guipal added.

Rafael Fernandez de Mesa, the head of Aboitiz InfraCapital Economic Estates and president of LIMA Land Inc., said, "These investment missions present a good opportunity to share Aboitiz InfraCapital's success in building world-class, smart, and sustainable economic estates in the Philippines."

Guiapal stated, "To date, 251 South Korean locators are contributing P89.864 Billion in investments from 1995 to June 2022. These companies also generate $1.102 billion in exports and employ 44,359 workers as of August 2022."