AmCham-PEZA: Partners in Driving Investment
By Chesca Gardaya
Last May 19, 2021, I was fortunate to attend the American Chamber of Commerce (AmCham) of the Philippines’ General Membership Meeting. Invited as guest speaker was Philippine Economic Zone Authority’s (PEZA) Director-General, Charito B. Plaza.
Dir. Plaza shared that PEZA aims to strengthen its ties with international investors. This was what drew her to speak to the members of AmCham to discuss and collaborate with key public and private stakeholders, together with their wide network of industry leaders.
She started by citing that 15.20% of the investors of PEZA are Americans. At present, there are 976 American enterprises, with 294,137 workers. Most American investors in the country come from the following industries: call centers, business process outsourcing, software development, engineering, architectural and other design services, as well as radio, television, and communication equipment and apparatus.
Between the years 1995 and 2020, PEZA has received Php 3.967 trillion in investments, USD 871.069 billion in exports, 8,071 approved projects, and 1,545,200 direct employments. It has also been operating in 413 ecozones and has 4,643 locator companies.
Even at the height of the pandemic, PEZA has continued its aggressive campaign of attracting and bringing investors to the Philippines to help protect the country’s economy, as well as its workforce.
PEZA’s priority projects include the economic roadmap for the next two years. It aims to unravel the potentials of Philippine industries, further addressing the efficiency factors in economic zone development, build new partnerships, and enhance the competitiveness of Philippine exports, human capital, and investments. These will be done by creating different types of ecozones in every region and transforming ecozones into townships so that investors and workers can all work, live, learn, and play in one area as part of the safety, security, and ease in doing business in the country
This roadmap can address efficiency factors such as logistics and transportation hubs, public works and infrastructure in order to make the country self-reliant, self-sustaining, and resource-generating. The country needs to eradicate — or at least lessen — import and consumption dependency and become an export and production-driven economy.
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About the author:
Self-confessed ambivert Chesca is a bibliophile and a music lover. This mother of two loves trying out something new, especially when it comes to food and beauty.
