PEZA lures Swiss investors, presents PH initiatives in meeting

ZURICH, SWITZERLAND — The Philippine Economic Zone Authority (PEZA), together with the country’s delegation to the Joint Economic Bilateral Talks and Investment Promotion, presented initiatives to encourage Swiss firms to invest in the Philippines.

“We hope to attract more FDI (foreign direct investments) from Switzerland and EU especially with PBBM’s (President Bongbong Marcos) ongoing participation in the World Economic Forum in Davos, Switzerland together with his economic team DTI (Department of Trade and Industry) Sec. Alfredo Pascual and DBM Sec. Benjamin Diokno—with their collective mission to promote the Philippines as the smart investment destination in the region,” PEZA officer-in-charge Tereso Panga said in an update posted on his Facebook page.

During the meeting, PEZA shared the Philippines’ milestones last year, including the partnership with the Global Reporting Initiative (GRI) through a memorandum of understanding (MoU) signed last March 2022.

“The country achieved a 6.5-7.5% GDP growth this year, which is one of the best-performing economies in the region,” Panga noted.

Specific topics discussed in this 5th meeting of the JEC between the two countries included: Exchange of Views on Domestic Economic Situation; Philippines-EFTA Free Trade Agreement; Bilateral Relations and Economic Cooperation; and Statements of the Private Sector.

Currently, there are 60 Swiss companies operating in the Philippines, 28 of which are registered with PEZA as export-oriented IT and manufacturing enterprises. These Swiss locators have by far generated Php19.618 billion in cumulative investments and 8,547 direct jobs.