The Filipino Chinese Chambers of Commerce and Industry Inc. (FFCCCII) mulls boosting investments in the Philippine Economic Zone Authority (PEZA)-administered areas to spur more jobs amid the persistent Covid-19 pandemic.
“Our federation members and many Chinese investors expressed their interests to explore opportunities to do business in PEZA ecozones especially in export-manufacturing, information technology services, tourism, agro-industrial and logistics, FFCCCII president Henry Lim Bon Liong told the recent Global Biz Forum.
“We believe there’s more room for PEZA to expand Chinese and Filipino investors,” he added.
According to PEZA Director General Charito Plaza, Filipino-Chinese businessmen are among the country’s big landowners enticed by PEZA to become economic zone developers and local business partners of foreign investors.
“We aim to invite more investors to the country and replicate the multiplier effects our enterprises created by locating and even creating more ecozones in the country,” Plaza said.
China has been eyeing the Philippines as a feasible and viable location for its young, skilled, English-speaking workforce, and sturdy infrastructure with various land potentials.
At present, the country has 172 Chinese locators registered under PEZA. The investments contribute P24.09 billion and employ 10,518 workers.