PEZA CELEBRATES 29 GLORIOUS YEARS OF ECO-ZONING THE PHILIPPINES TOWARDS INCLUSIVE AND SUSTAINABLE DEVELOPMENT
Over the course of 29 robust years, we have had the privilege of witnessing the remarkable growth and vibrancy of our economic zones.
Heeding the call of President Ferdinand Marcos Jr., alongside the vision of DTI Secretary and PEZA Board Chairman Alfredo E. Pascual and SAPIEA Secretary Frederick D. Go, we have been offering the optimal location and business ecosystem for investors through our ecozone program. This emphasizes our renowned one-stopshop function and commitment to providing no red tape, but only red-carpet treatment since 1995.
Together with our lean and mean workforce, PEZA has consistently focused on the benefits and advantages for our investors with the range of fiscal incentives, such as Income Tax Holiday, Special Corporate Income Tax, tax- and duty-free importation, zero VAT on local purchases, as well as our green initiatives, digitalization, and Ease of Doing Business measures, among others. These serve as a testament to the Philippines’ appeal as an attractive base for offshore activities.
Looking forward, we are streamlining the array of policy differences and addressing painpoints that deter investors from entering the Philippines. This includes leveraging key legislations such as CREATE MORE to further enhance the business environment for our stakeholders. Additionally, an international forum on smart, sustainable, and green ecozones is scheduled for April 2024 to promote sustainability further.
As part of our intensified efforts for aggressive promotion, seven priority sectors— advanced manufacturing, green ores processing, agriculture and blue industries, IT Services and frontier technologies, eco-industrial park development, science, technology, and innovation, integration of Small and Medium Enterprises — are identified, diversifying our investment attraction strategies. Aligned with evolving economic and technological landscapes, we are also venturing into new frontiers in ecozone development, moving beyond conventional types to encompass various categories, including mineral processing zones, renewable energy parks, knowledge, innovation, science and technology parks, aquamarine ecozones, biotech centers, and mega pharmaceutical ecozones.
Through these endeavors, we anticipate a positive upswing in the economy, fueled by upcoming strategic and large-scale investments. Our optimism is deeply rooted in our mindset to not only meet but exceed our P250 billion target for the year 2024.
As our economy gains momentum and upward trajectory signified with the constant increase in PEZA’s performance since President Marcos Jr assumed office, we commit to continue fostering the business environment for our valued locators so that we can better contribute to lowering the country’s trade deficit and more importantly, create employment opportunities for our fellow Filipinos.
This journey has been characterized by an unwavering commitment to our reinvigorated mission and mantra of ecozoning the Philippines towards inclusive and sustainable development — para sa Bagong Pilipinas.
TERESO PANGA
Director General Philippine Economic Zone