PEZA, ANZCHAM partner to boost Philippine IT-BPO investments from Australia, New Zealand
MAKATI, PHILIPPINES — The Philippine Economic Zone Authority (PEZA) recently held a meeting with the Australian-New Zealand Chamber of Commerce Philippines (ANZCHAM) to discuss strategies for promoting the Philippines as a prime destination for IT-BPO investments from Australian and New Zealand (ANZ) companies.
Strengthening economic ties and facilitating investments
ANZCHAM, a premier business organization fostering commercial relations between the Philippines, Australia, and New Zealand, has been a key industry partner for PEZA.
The meeting aimed to strengthen economic ties further and facilitate investments in the country’s thriving IT-BPO sector.
PEZA Director General Tereso Panga emphasized the government’s commitment to making the Philippines a top investment hub in the region, aligning with President Ferdinand Marcos Jr.’s advocacy of promoting the country globally.
“We’re committed to making the Philippines a top investment destination in the region, following President Marcos Jr.’s lead in promoting our country globally,” said Panga.
ANZCHAM fostering business relationships
ANZCHAM has played a pivotal role in fostering business relationships and facilitating investments between the three nations. Established in 1974 as the Australian Business Group, the organization has evolved into a thriving community promoting trade, investment, and commercial relations.
The Chamber maintains constant communication among its members and fosters strong partnerships with organizations like PEZA.
It offers various membership levels, including corporate, associate, and individual, providing networking opportunities and support for specific business, trade, or investment issues.
PEZA’s efforts to attract IT-BPO investments
PEZA, an attached agency of the Department of Trade and Industry, is tasked with promoting, overseeing, and assisting foreign-registered business enterprises, particularly in the IT-BPO sector.
The agency offers fiscal and non-fiscal incentives to registered business enterprises (RBEs), including income tax holidays, tax exemptions, and simplified import-export procedures.
These incentives have made the Philippines an attractive destination for IT-BPO companies seeking cost-effective operations and a skilled workforce.
PEZA has also been actively advocating for hybrid work arrangements in the IT-BPO sector, recognizing the industry’s shift towards remote work during the pandemic. The agency has sought support measures from the Fiscal Incentives Review Board (FIRB) to allow registered IT-BPOs to implement a 70:30 work-from-home (WFH) scheme.
Through partnerships with organizations like ANZCHAM and initiatives to support the IT-BPO industry, PEZA aims to position the Philippines as a premier investment destination in the Asia-Pacific region.
