PEZA hoping to attract more US investors
The Philippine Economic Zone Authority (PEZA) is eyeing to get more US firms engaged in aerospace, semiconductors, pharmaceuticals, and information technology (IT) sectors to invest in the country’s ecozones.
In a social media post, PEZA Deputy Director-General Tereso Panga said that “with the status of the US as the world’s largest producer of high-technology manufacturing,” the agency hopes to attract new American investors into emerging sectors in the country.
Panga added that they would like to see more American IT firms expanding in the Philippines especially in the areas of “healthcare, fintech, cybersecurity, digital and AI (artificial intelligence)-based solutions.”
Currently, the US is in third place in PEZA’s total ecozone foreign direct investments by country list with 429 American companies approved by the agency.
These companies generate a total of P400.4 billion (approximately US$7.8 billion) in investments and employ over 300,000 Filipinos.
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