PEZA TO WOO INVESTORS
Amidst the various quarantines imposed to combat the spread of COVID-19, the Philippine Economic Zone Authority (PEZA) has partnered with various agencies and organizations, also known as Ka-PIPPs, to continue to connect and to attract global investors to the Philippines.
The Ka-PIPPs program, one of the 10-point programs and special projects of PEZA, seeks to build partnership with international and domestic business chambers and industries’ associations, POs, NGOs and Socio-Civic groups to help market and promote PEZAeconomic zones and investment promotion programs worldwide.
According to PEZA Director General Charito “Ching” Plaza, “with the help of investment promotion partners or Ka-PIPPs, we continue to conduct a series of virtual investors forum to constantly brief and update both potential and existing investors on the investment climate in the country during this crisis.”
Plaza explained, “through the forums, we continue to motivate and support both potential and existing investors with all the assistance and reliefs that we can provide.”
Proving to be positive, PEZA reported on August 10 a positive growth in foreign direct investments in the first semester of 2020. The positive growth has been registered specifically in the IT-BPO and manufacturing sectors. New PEZA Ka-PIPPs Alongside the July 29 launching of two projects under the PEZA Development Outreach for Labor, Livelihood, and Advancement of Resources (DOLLAR) program, a total of 13 agencies and organizations signed a Memorandum of Understanding (MOU) with PEZA to become an investment partner. The new partners include:
1. Department of Labor and Employment (DOLE) 2. Blaan Tribe 3. Joint Industrial Peace and Concern Office (JIPCO) 4. OFW Council of Leaders (OCL) 5. European Chamber of Commerce of the Philippines (ECCP) 6. Overseas Workers Welfare Administration (OWWA) 7. Kabataan Kontra Droga at Terorismo (KK-DAT) 8. Japan Tobacco International (JTI) 9. United Filipino Global 10. Advocates and Keepers Organization of OFWs Inc. (AKO OFW, Inc.) 11. Amigos-MARINO, Inc. 12. Bureau of Muslim Economic Affairs (BMEA) 13. Australian-New Zealand Chamber of Commerce Philippines (ANZCHAM) The groups and agencies shall commit to be a member of PEZA’s Ka-PIPPs program and help promote the economic potential of the Philippines as an emerging economic powerhouse by considering other areas of investment and by supporting the country as a priority investment destination. “This MOU is the beginning of further collaboration between our group, OCL, and PEZA and we hope that we can contribute to the economic recovery of our country post-COVID era and beyond,” said OFW Council of Leaders Director General Venecio Legazpi.