Local enterprises were extolled by Trade Secretary Fred Pascual saying they were the key drivers of growth.

Pascual, who also sits as the Board Chairman of the Philippine Economic Zone Authority, lauded PEZA's top-performing economic zone developer and locator company during the Investors' Recognition Day held last 25 November 2022.

In its 27th year, PEZA serves as a primary government agency that handles investment promotion in the export industry and ecozone developments in the country.

The agency is one of the top investment promotion agencies which established a variety of free zones to special economic zones nationwide, counting 419 to date.

"With PEZA, I proudly applaud our respected and resolute investors and partners in investment promotions for your exemplary performance. You have contributed immensely to Philippine investments, export income, and creating millions of jobs for Filipinos," he said.

Integration a must

Further, the Trade chief noted that sectors in the export industry such as manufacturing, IT-BPOs, agro-industries, logistics and support services, MSMEs, utility providers, and ecozone developers are the main beneficiaries of these investments.

"Your investments enable the transfer of technology, help diversify industries and markets, boost innovations, and integrate us further into the global supply chain", he added.

The Trade Chief also highlighted the long-standing partnership between the Department of Trade and Industry and PEZA, noting that the two economic types of machinery of the government can work hand-in-hand in transforming the country and making it a top investment destination not only in the region but across the globe.