PEZA approved P12B investments in Jan.-Feb. 2024

 

PEZA approved P12B investments in Jan.-Feb.

By TED CORDERO, GMA Integrated News

Published February 20, 2024 11:44am

The Philippine Economic Zone Authority (PEZA) has approved over P12 billion worth of investment commitments during the first two months of 2024.

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In a statement on Tuesday, PEZA said it has given the thumbs up for P12.096 billion in investments in January to February this year, up 18.66% in the same period last year.

“The significant upswing in our investment performance within two months underscores our commitment to achieving our target of P250 billion investments for this year,” said PEZA Director General Tereso Panga.

So far this month, the investment promotion agency approved 16 projects, composed of nine ecozone enterprises, three IT enterprises, one domestic market, two ecozone logistics services, and one developer.

PEZA said the approved projects are expected to generate P9.884 billion in investments, create 2,243 direct jobs, and yield $591.476 million in exports.

 

The approved projects are located in the First Philippine Industrial Park II (FPIP II-SEZ), Daiichi Industrial Park (DIP-SEZ), Light Industry & Science Park III (LISP III-SEZ), Laguna Technopark (LT-SEZ), PHIVIDEC Industrial Estate - Economic Zone, Lima Technology Center (LTC-SEZ), Mactan Economic Zone II (MEZ II – SEZ), People Technology Complex (PTC-SEZ), 1 Nito Tower in Cebu City, Embarcadero De Legazpi in Legazpi City, Albay, Light Industry & Science Park IV (LISP IV – SEZ), and Hermosa Ecozone Industrial Park (HEIP-SEZ).

In January, PEZA greenlit P2.21 billion worth of 12 projects which are expected to $69.62 million worth of exports and 1,337 direct jobs. 

Broken down, the 12 projects were composed of seven ecozone export enterprises, four information technology enterprises, and one facilities enterprise. 

 –VAL, GMA Integrated News

 

PEZA OKs 12 projects worth P2.21 billion in January 2024

 

PEZA OKs 12 projects worth P2.21 billion in January

By TED CORDERO, GMA Integrated News

Published February 2, 2024 3:31pm
Updated February 2, 2024 3:30pm

The Philippine Economic Zone Authority (PEZA) approved P2.21 billion worth of new and expansion projects in the first month of 2024.

In a news release on Friday, PEZA said the 12 projects it green-lit would generate $69.62 million worth of exports and 1,337 direct jobs.

Broken down, the 12 projects were composed of seven ecozone export enterprises, four information technology enterprises, and one facilities enterprise.

“We are proud to have closed more than P2 billion worth of investments in the first month of 2024, and confident of securing more investments which are already in PEZA’s pipeline and waiting for approval in the coming months,” said PEZA Director General Tereso Panga.

The investment promotion agency said the projects would be located in the following ecozones:

• Cavite Economic Zone (CEZ)
• Cavite Technopark-Special Economic Zone (SEZ)
• Laguna Technopark
• Lima Technology Center-SEZ
• Carmelray Industrial Park II-SEZ
• Laguna Technopark Annex-SEZ
• First Philippine Industrial Park
• Giga Tower Bridgetowne IT Park in Quezon City
• Southwoods Mall in Laguna City
• Panorama Tower in Bonifacio Global City
• Jazz IT Center in Makati City

The approved investments were presented during PEZA’s first board meeting in Baguio City from January 25 to 27, 2024. — DVM, GMA Integrated News

 

 

 

Japanese semiconductor firms pledge billions of pesos in investments to Philippines

By TED CORDERO, GMA Integrated News

Published February 9, 2023 2:24pm

TOKYO— Japanese semiconductor companies have committed to invest “billions of pesos” to the Philippines - which could generate over 10,000 jobs - during the second day of President Ferdinand Marcos Jr.’s working visit here.

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On Thursday morning, Marcos presided over the roundtable meeting attended by top executives from Japan's semiconductor and electronics firms - Japan Aviation Electronics Industry, Ltd.; Yazaki Corporation; Yokowo Manufacturing of the Philippines; Sumitomo Electric Industries, Ltd.; Brother Industries, Ltd.; IBIDEN Co., Ltd.; Seiko Epson Corporation; NIDEC-SHIMPO Corporation; and TDK Corporation - who are looking to expand their operations in the Philippines.

The total amount of investment commitments will be announced by the  President on February 10, 2023 during the signing of the letters of intent by the Japanese companies, according to the Presidential Communications Office.

The investment pledges are expected to generate more than 10,000 jobs, which are seen to boost the administration’s initiative to create more jobs for Filipinos.

In his remarks during the roundtable meeting, Marcos said the country aspires to become “hubs of excellence for sectors where we have a natural comparative advantage.”

Medical, pharma firms to set up shop in PH ecozones: PEZA

MANILA - A number of international medical and pharmaceutical firms will invest and will soon set up shop within the country's economic zones, an official said Wednesday. 

Due to the influx of investments in the field, the Philippine Economic Zone Authority (PEZA) has developed the country's first pharmaceutical ecozone called the First Bulacan Business Park in Malolos, City, PEZA director-general Charito Plaza told ANC. 

One firm will invest P571 million in the country while other Israeli and Indian pharmaceutical companies are in the process of getting their permits approved, she said.

"Coming in mostly medical are pharmaceutical companies. We are now asking these new investors on medical and pharmaceutical firms to prepare documents so we can approve this immediately in the PEZA board," Plaza said. 

"It’s a miracle on the side of PEZA because we never played hostage to COVID, to the pandemic," she said. 

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Despite the pandemic, the agency has contributed to the increase in foreign direct investments. The number of projects rose 5.31 percent while export income rose for the first 6 months of 2021 by 21.636 percent, she added.

The number of workers, which decreased in 2020 to 1.4 million, has now recovered to 1.6 million, Plaza added.

She said more would be developed in areas nationwide to attract "all industries in the world." 

Plaza said there are 417 operating economic zones in the country. 

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ref:

https://news.abs-cbn.com/business/09/22/21/medical-pharma-firms-to-set-up-shop-in-ecozones

𝐏𝐄𝐙𝐀 𝐰𝐞𝐥𝐜𝐨𝐦𝐞𝐬 𝐬𝐢𝐠𝐧𝐢𝐧𝐠 𝐨𝐟 𝐂𝐑𝐄𝐀𝐓𝐄 𝐢𝐧𝐭𝐨 𝐥𝐚𝐰

 𝐏𝐄𝐙𝐀 𝐰𝐞𝐥𝐜𝐨𝐦𝐞𝐬 𝐬𝐢𝐠𝐧𝐢𝐧𝐠 𝐨𝐟 𝐂𝐑𝐄𝐀𝐓𝐄 𝐢𝐧𝐭𝐨 𝐥𝐚𝐰

April 7, 2021 (Wednesday)

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The Philippine Economic Zone Authority has welcomed the signing of a new law Republic Act. No. 11534, or the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act, by President Rodrigo Duterte last March 26, 2021.

The CREATE Law aims to gradually lower the corporate income tax from 30% to 25% and streamline the government’s fiscal incentives for investments both covering foreign and domestic enterprises.

PEZA Director General Charito “Ching” Plaza has expressed gratitude to the President and the Congress for considering most of the concerns and suggestions from the industry associations and PEZA-registered export industries that had been expressed and submitted to the House of Representatives and the Senate since the deliberations began as TRAIN 2, to CITIRA, and now the CREATE Law.

“We are happy with the final CREATE Act after all those years of struggle. We recognize the need to gradually change and reform the national tax or revenue system yet at the same time address the need to maintain and attract investors’ confidence in the Philippines, especially during this time of the pandemic,” said Plaza.

The PEZA Chief added, “Although CREATE may offer 'win some, lose some' opportunities for the different industries, we are glad that CREATE sustained our argument and has placed a high premium on export-oriented enterprises with their availment of superior fiscal incentives particularly for new projects that will be applied with the IPAs like PEZA.”

“Now that the passage of CREATE law is done, it creates stability in taxation regime and PEZA as the top export-oriented investment promotion agency can aggressively pursue marketing and promotion of our economic zones to global investors,” she added.

The PEZA Chief said that there’s a need to communicate to existing and new investors the impact of the CREATE law to export-oriented industries while pushing the momentum and efforts to attract investments through marketing and promotion activities.

𝐄𝐱𝐭𝐞𝐧𝐬𝐢𝐨𝐧 𝐨𝐟 𝐚𝐯𝐚𝐢𝐥𝐦𝐞𝐧𝐭 𝐨𝐟 𝐢𝐧𝐜𝐞𝐧𝐭𝐢𝐯𝐞𝐬 𝐟𝐨𝐫 𝐞𝐱𝐢𝐬𝐭𝐢𝐧𝐠 𝐑𝐁𝐄𝐬

One of the items vetoed by the President which may have a big effect on the country’s existing foreign direct investors is the removal of the extension of availment of tax incentives by existing registered business enterprises (RBEs) given that the "extension of incentives for existing projects is unfair to ordinary taxpayers / unincentivized enterprises and further, only new activities and projects deserve fresh incentives."

Under CREATE, RBEs have no choice but to make do with the 10-year sunset period (after the lapse of ITH) and thereafter, graduate to the regular 25% CIT rate.

As explained by Deputy Director General for Policy and Planning Mr. Tereso Panga, “This scenario could be a make or break for the Philippines as the affected ecozone locators, for example, might decide to retain their facilities and invest in new projects to be entitled to a longer ITH and SCIT period (total of 14- 17 years) or worse, they might just pack up and transfer to a more willing host-country that can offer better incentives for their investments as their availment of more advantageous incentives for sunk projects with the IPAs prior to CREATE were cut short by the mandatory sunset period for RBEs.”

Nevertheless, Plaza remains hopeful that the locator companies will be able to cope with the new conditions and the Philippine economy will be able to bounce back with a much inclusive growth for the country.

“We believe that effective governance will be pivotal in our resolve to retain, expand and attract investments into the ecozones under the CREATE regime, and in due time, our existing locators will be able to adjust to CREATE and continue to secure their investments in the Philippines,” she said.

PEZA is currently preparing its inputs to the Implementing Rules and Regulations (IRR) of the RA 11534 and will soon conduct a series of dialogue with its locator companies to further discuss the impact or benefits of the CREATE Law to PEZA and its registered enterprises.

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Reference: PEZA facebook page=https://www.facebook.com/PEZAPH/

PRESIDENT Duterte’s approval of 12 new economic zones in the first half of 2020

P6-billion business eyed in new ecozones

ByElijah Felice Rosales

June 11, 2020 , https://businessmirror.com.ph/

 

      Photo taken from: https://qwerty432blog.wordpress.com/2016/12/08/first-blog-post/

PRESIDENT Duterte’s approval of 12 new economic zones in the first half of the year is seen to have secured for the economy more than P6 billion worth of investments at a time the government is struggling to attract capital to the Philippines.

According to the Philippine Economic Zone Authority (Peza), the President’s proclamation of 12 new industrial parks across the country will bring in P6.4 billion of investments. Duterte signed the papers between January and June licensing their operations as economic zones.

Mostly located in Luzon, the first half approvals are made up of nine information technology (IT) centers, two manufacturing zones and one IT park, disclosed Peza Director General Charito B. Plaza on Wednesday.

“Peza is grateful to the President for his wise approval for the proclamation of new ecozones in the country amid the Covid-19 pandemic,” Plaza said. “Once export companies invest in these newly proclaimed ecozones, these will surely multiply investment and economic activities and opportunities in the Philippines.”

“Majority of the new ecozones—composing 67 percent of the total—will be located in Luzon, whereas the other 33.33 percent will be positioned in the Visayas and Mindanao,” she added.

The President issued the proclamations of Abiathar Commercial Complex, TDG Innovation and Global Business Solutions Center, Ayala Bacolod Capitol Corporate Center and Silver City 4, all of which are IT centers, in January. During the same month, he signed the papers of Millennium Industrial Economic Zone, a manufacturing park.

In May and June the Chief Executive authorized IT centers GLAS Office Development, Bench City Center, Ortigas Technopoint Tower 1 & 2, NEX Tower and Robinsons Luisita 2 to operate as economic zones.

During the same period, manufacturing park Davao del Sur Industrial Economic Zone received the green light from Malacañang. IT park Batangas State University Knowledge, Innovation and Science Technology Park also got its presidential nod.

 ref:

https://businessmirror.com.ph/2020/06/11/p6-billion-business-eyed-in-new-ecozones/

May 21, 2020 - Philippines lures 7 foreign firms with businesses in China

PH lures 7 foreign firms with businesses in China

By Kris Crismundo  May 21, 2020, 6:24 pm

Trade Undersecretary Ceferino Rodolfo

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Trade Undersecretary Ceferino Rodolfo

MANILA – Trade Undersecretary Ceferino Rodolfo said seven foreign companies with businesses in China have diversified their operations in the Philippines.

 

These companies registered their projects with investment promotion agencies (IPAs) attached with the Department of Trade and Industry (DTI), the Board of Investments (BOI), and the Philippine Economic Zone Authority (PEZA) from 2018 to February 2020.

 

Their investments reached PHP1.6 billion, said Rodolfo, who is also the managing head of BOI.

 

Dutch company Head Group has the biggest investments amounting to PHP1.12 billion for manufacturing of tennis balls.

 

Five companies are from Taiwan with combined investments of PHP444.63 million. Their projects involve manufacturing and exporting marine accessories, internet accessories, parts and equipment, audio appliances, health products and luggage. 

 

American firm Ever Win International Corp. invested PHP21.4 million for manufacturing of consumer electronics.

 

Rodolfo said the Philippines positions itself as a complementary host country for investments of companies that have operations in China, particularly in the manufacturing industry.

 

Many multinational companies with businesses in China are eyeing to diversify their investments outside the East Asian country.

 

The trade official added these firms are relocating and diversifying outside China even before the coronavirus disease 2019 (Covid-19) pandemic due to the trade tension between China and the United States. (PNA)

 

Ecozone firms see ‘silver lining’ in crisis

Electronics, garment companies shift to hospital supplies production as demand for health-care needs increases

By: Maricar Cinco - Reporter / @maricarcincoINQ

Philippine Daily Inquirer / 05:04 AM April 09, 2020

PRODUCTION CONTINUES American Power Conversion-Schneider Electric, despite a reduced workforce, continues to manufacture UPS (uninterruptible power supply) in its factory in Cavite province to meet an increased demand from hospitals and facilities catering to COVID-19 patients. —CONTRIBUTED PHOTO

SAN PEDRO CITY, Laguna, Philippines —Companies operating the country’s economic zones have shifted to manufacturing medical supplies and health-care-related products as the new coronavirus disease (COVID-19) pandemic triggered an increase in demand for hospital equipment.

Electronics companies producing computer chips, for example, are now focusing on making hospital ventilators and RxBoxes, a device that monitors a patient’s vital signs.

Those in the garment sector, meanwhile, have begun making face masks and PPE (personal protective equipment) for doctors and other medical front-liners.

In Batangas province, Taiwanese Kinpo Electronics Inc., which produces semiconductor and electronic parts, recently announced its plan to make hospital ventilators, according to Lucky Manas, the local economic zone manager.

Staying afloat

The First Philippine Industrial Park in Batangas provides two buses to shuttle hospital workers in Sto. Tomas and Tanauan cities.

The demand of the health-care sector has provided some sort of a “silver lining” to the companies, grappling to keep their operations afloat amid the outbreak, said Norma Tañag, manager of economic zones in Cavite province.

Tañag said this was also their way to make up for “canceled orders” and income losses due to disrupted supply chains.

Skeleton workforce

To slow down local virus transmission, the Philippine Economic Zone Authoritiy (Peza) has allowed companies to resume operation but only on certain conditions, like regular disinfection, strict observance of social distancing and providing for employees’ accommodation and meals during the quarantine period.

As a result, companies could only afford to operate with a skeleton workforce or 50 percent or less of their normal number of employees.

According to Peza, only 72 percent of the total number of companies in Luzon and 92 percent in the Visayas are partially operating.

In Mindanao, all companies inside economic zones are operational, it said.

The rest have stopped production because of “lack of raw materials and costly housing and shuttle [services],” said Charito Plaza, Peza director-general.

“As a [government] rule, 80 percent of the products [from economic zones] should be distributed locally,” Tañag said.

In Laguna province, the government has tapped IONICS EMS Inc. to produce RxBox for the Philippine General Hospital, a coronavirus referral center.

Exponential demand

In Cavite, the American Power Conversion-Schneider Electric continues to make UPS (uninterruptible power supply), especially with an “exponential demand” from American hospitals and facilities catering to COVID-19 patients.

President Rodrigo Duterte on Tuesday approved the recommendation of a government task force to extend the Luzon-wide lockdown until April 30. Tañag said companies could stretch their resources until the end of the month, but “beyond that, they don’t really know what to do [yet]. Medyo mahihirapan na (It will be difficult).”

Doubled production

Automotive companies Toyota and Mitsubishi, with plants in Laguna, have lent cars to the city government of Sta. Rosa for use in community hospitals.

Bread manufacturer Gardenia, which operates in Biñan City, has doubled its production volume due to an increased demand for food.

On Tuesday, Simplicio Umali, Gardenia president, said the company’s six factories nationwide were operating 24/7, despite a reduced workforce, to make 750,000 loaves of bread daily.

Ref:  https://newsinfo.inquirer.net/1256004/ecozone-firms-see-silver-lining-in-crisis#ixzz6J8gyW6NW