PEZA, PTIC engage 30K Japanese SMEs to invest in PH

OSAKA, JAPAN — Around 30,000 small and medium-sized enterprises (SMEs) in Japan were approached by the Philippine Economic Zone Authority (PEZA) and the Philippine Trade and Investment Center (PTIC) for possible investment opportunities in the Philippines. 

The deals, made in partnership with the Okayama International Business Association (OIBA) and during PEZA’s Japan mission, are set to boost the Philippines’ manufacturing supply chain and industrial ecosystem.

According to PEZA OIC Director General Tereso Panga, “With Japan’s SMEs as the lifeblood of this country’s massive economy, comprising 99.7% of all businesses, we can take advantage of these SMEs by putting up operations in the Philippines, help complete the supply chain, empower our own SMEs, and boost the country’s industrial ecosystem.”

Aside from talking with SMEs, PEZA also engaged in several business-to-business and government-to-government meetings to strengthen its investment promotion initiatives and promote the Philippines as the best investment destination in Southeast Asia. 

“We echo the call of the government and our investors that the Philippines is the smart investment choice in the region. This is the best time to invest in the Philippines,” Panga added.

PEZA’s recently concluded Japanese mission is in preparation for President Ferdinand “Bongbong” Marcos, Jr.’s state visit to Japan in February 2023, which will coincide with the celebration of Japan+ASEAN 50th year of partnership. 

Meanwhile, an Okayama business delegation will also visit the Philippines by the first quarter of next year to explore investment opportunities in the ecozones.

To date, there are a total of 891 Japanese enterprises registered in PEZA, contributing about  P746 billion (US$13.5 billion) in investments from 1995 to November 2022. Japan also remains to be PEZA’s top investor, comprising 27.52% of its total investments.