PEZA, IPOPHL partner to fortify ecozones’ rights
By emphasizing the importance of IP rights in these zones, we’re creating a secure environment for businesses and investors
Daily TribuneBy emphasizing the importance of IP rights in these zones, we’re creating a secure environment for businesses and investors
Philippine Economic Zone Authority
Philippine Economic Zone Authority, or PEZA, and the Intellectual Property Office of the Philippines, or IPOPHL, have joined forces to promote the use of intellectual property as a driver of innovation and investment within special economic zones.
A memorandum of understanding signed in December 2023 by PEZA director general Tereso Panga and IPOPHL director general Rowel Barba establishes a two-year collaboration plan to raise awareness about IP protection among existing and potential investors in SEZs.
“By emphasizing the importance of IP rights in these zones, we’re creating a secure environment for businesses and investors,” explained director general Barba. “They can be confident that their intellectual property assets are safeguarded.”
The MoU outlines a joint work plan to integrate IP into PEZA’s development goals. This includes knowledge-sharing initiatives and skills training for PEZA officials and staff on identifying and protecting IP assets.
Director general Panga expressed PEZA’s commitment to the partnership, highlighting the crucial role of existing investors in shaping the work plan.
“This MoU allows us to streamline procedures for our locators, especially those seeking patents and trademarks,” Panga said. “We’ll also actively incorporate feedback from our investors to prioritize IP promotion among PEZA stakeholders.”
P25.9B in exports
PEZA plays a significant role in the Philippine economy, with its SEZs contributing P25.9 billion in exports, 1.8 million direct jobs, and 102 new or expansion projects during the first half of 2023. As of September 2023, PEZA manages 422 ecozones nationwide, housing 4,372 locator companies.
The Philippines’ commitment to IP protection has further strengthened its appeal as an investment destination. Its removal from both the European Commission’s IP watchlist in 2020 and the US Trade Representative’s Special 301 Report in 2013 signifies its progress in upholding intellectual property rights.
“We aim to build the confidence of foreign direct investors, with PEZA being a key player in attracting them,” said Director General Barba. “This partnership reaffirms our commitment to providing a secure and reliable investment environment with a robust IP system, ensuring the protection of valuable assets.”
