PEZA urges new admin to review investment laws, WFH model
The Philippine Economic Zone Authority (PEZA) is urging the new administration to review the existing investment laws and the possible institutionalization of the work-from-home (WFH) model in the country.
PEZA Director-General Charito Plaza said that there is a need to look into the incentives and authority given to investment promotion agencies and their members.
She also requested the incentive system to reflect the regulations stated under the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act.
Plaza is also recommending the synchronization of laws that affect the WFH model. At the height of the pandemic, the Fiscal Incentives Review Board (FIRB) allowed IT-BPO firms to implement the WFH arrangement for up to 90% of the workforce without any effect on their incentives until March 31 this year.
While this agreement has already expired, PEZA still allows a 30% WFH scheme to its IT-BPO members as long as they acquire letters of authority (LOA) from the agency.
Additionally, Plaza suggested that the next admin should prioritize the development of ecozones and logistics transportation hubs in the country to attract more investors.
Plaza concluded that ecozones “trigger the growth of LGUs (local government units), MSMEs (micro, small and medium enterprises) who become suppliers to exporters or become exporters themselves.”
