20 Japanese firms explore putting shops in Phl ecozones

Executives of 20 Japanese firms are now in the country to explore the Philippine business environment, particularly in the country’s economic zones.

On Monday, officials of the Philippine Economic Zone Authority (PEZA), led by Director-General Tereso Panga, welcomed the Okayama International Business Association delegation at the Double Dragon Office, Pasay City for an in-depth discussion on strategic investment opportunities in the Philippines.

The visit was co-organized by Philippine Trade and Investment Center (PTIC) Osaka, led by commercial counselor Michael Alfred Ignacio, also to strengthen economic ties between Japan and the Philippines while showcasing the country's business-friendly environment, competitive incentives, and thriving economic zones as prime investment destinations. 

Currently, PEZA is housing more than 800 registered Japanese companies with P589 Billion in investments and over 300,000 direct jobs created.

“In PEZA, the Japanese have always been ichi-ban — being our top ecozone locator since 1995 and one of the Philippines' top trading and investment partners. Japanese firms have been making significant contributions to our electronics, automotive, and industrial sectors through the years and we are eager to see how this mission will further strengthen our collaboration and, in our quest, to entice more Japanese companies to the country,” Panga said in a speech during the welcoming.

Meanwhile, PEZA Deputy Director General for Policy and Planning Anidelle Joy Alguso, during the briefing, discussed various investment opportunities in the country, emphasizing the favorable investment climate and PEZA’s efficient support within its ecozones aimed at attracting more manufacturing ventures, particularly on priority industries such as the EMS-SMS industry.

As part of their mission, the delegation will also be visiting the Cavite Economic Zone and Japanese locator companies to see first-hand the positive effect of investing in the country.