PEZA AT IFAT. The Philippine Economic Zone Authority participates in the International Trade Fair for Sewage Technology (IFAT) Munich 2024 as part of its investment mission to Germany on May 13 to 17, 2024. German investments in PEZA have so far amounted to PHP30 billion. (Photo courtesy of PEZA)
MANILA – The Philippine Economic Zone Authority (PEZA) made a follow-through on the recent official visit of President Ferdinand R. Marcos Jr. to Germany to attract German firms to invest in the country.
In a statement Monday, PEZA said Director General Tereso Panga embarked on an investment mission to Germany on May 13 to 17.
“The mission aimed to touch base and understand the latest trends in the country and European region. This also served as our follow-through on the recent visits of President Ferdinand R. Marcos Jr. and the Department of Trade and Industry (DTI) in Germany, with the goal of increasing the presence of German investments in the country,” Panga said.
In March, the Philippines secured at least USD4 billion of investment pledges from German firms during the working visit of Marcos.
Panga said he met with several firms, including a known German manufacturer of automotive safety sensors with plans to expand operations in the Philippines.
There is also an expansion plan from a producer of discrete semiconductors and passive electric components for the use of several industries such as automotive, industrial, computing, military, aerospace, and medical.
The PEZA chief, likewise, had a meeting with one of the world’s biggest pharmaceutical companies and one of the world’s leading car manufacturers headquartered in Germany to encourage them to operate in the Philippines.
A firm that is into pharmaceutical laboratory and medical equipment calibration is already preparing its registration with PEZA.
“We are excited to announce the identities of these companies once they file their application with PEZA,” Panga said.
During the trip, PEZA also participated in the International Trade Fair for Sewage Technology Munich 2024, wherein the Philippine delegation met with the world’s largest producer of silicon carbide membranes.
“They will be investing in the ecozones initially to provide waste-water treatment facility using nano-filtration technology following the success of their engagement with a leading electronics company in the company. They are open to manufacturing their filtration equipment for supply to the domestic and ASEAN markets,” PEZA added.
Currently, PEZA is home to about 37 locator companies with German equity, with investments of more than PHP30 billion and which have generated over 20,000 direct jobs. (PNA)
