The Philippine Economic Zone Authority (PEZA) is readying a contingency plan on how to attract more foreign direct investments (FDI) as more locators resume operations seven months after the quarantine.
The promotions agency reported that 87 percent (or 2,620) of locator companies are now operational. From that, 90 per cent are in manufacturing and 83 per cent are in information technology/business process outsourcing (IT-BPO).
PEZA director-general Charito Plaza said the agency will conduct roundtable discussion with House Speaker Lord Allan Velasco together with the industry associations, foreign chambers, and other stakeholders to come up with a contingency plan for the future of foreign direct investments in the country and the spreading of special ecozones to the countryside, jobs and technologies.
Plaza also discussed PEZA’s new concept in creating different types of economic zones which will “bring peace, prosperity, lowered poverty and crime incidence with LGU hosts’ increase their income and classification and their constituents provided with jobs and better lives.”