The Philippine Economic Zone Authority (PEZA) has attracted investment leads from India in power generation, mineral processing, steel manufacturing, infrastructure and transport development–including revival of direct flights from India.
At its first ever investment mission to India, PEZA has elicited interest from SAEL, an Indian agro-energy and RE developer, which indicated plans to invest initially in an existing ecozone in Bulacan for an embedded power generation facility.
The other investment leads were bared by the Philippine Trade and Investment Center in New Delhi.
The mission also focused on foreign direct investment (FDI) leads from India’s pharmaceutical industry such as drug manufacturing, pharma zone development and research and development and information technology (IT) frontier technologies such as AI, blockchain and fintech.
At the government-to-business meetings with the HSBC Global Capability Center in Hyderabad, a total of 27 tech/AI and 9 drug manufacturing companies have participated in the one-on-one business meetings with the PEZA delegation supported by HSBC.
PEZA also met with existing IT registered business enterprises–Concentrix, Wipro, EXL, Coforge, R1 RCM, WNS and First Source Solutions to discuss their expansion plans in the Philippines and the needed support from government.
“As we set our sights on diversifying our ecozone investments and industries, it is imperative to keep India as top of mind source of FDIs, exports and technology. This will complement our efforts to attract more investments and trade from India as part of our government’s global supply chain de-risking strategy and as we pursue in PEZA our new types of ecozones such as pharmaceutical ecozones, e-tech hubs and Knowledge, Innovation, Science and Technology parks to promote innovation and niche product-technologies,” said Tereso Panga, PEZA director-general.
