Chinese investments in PEZA ecozones hit P24-B

By Kris Crismundo

August 27, 2021, 4:04 pm

MANILA – Chinese investments in economic zones of Philippine Economic Zone Authority (PEZA) reached PHP24.09 billion, an official said on Friday.
“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,” PEZA director general Charito Plaza said in a statement.
The PHP24.09 billion worth of investments came from 172 Chinese locators employing 10,518 workers.
PEZA added these Chinese companies also exported more than USD196 million.
Plaza also encouraged Chinese investors to partner with Filipino businesses to register their projects inside PEZA ecozones.
“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,” Plaza said.
Data from the Department of Trade and Industry (DTI) showed that during the pandemic alone, investment pledges from China reached PHP10.8 billion.
These projects were registered with DTI’s investment promotion agencies PEZA and the Board of Investments. (PNA)