The Philippine Economic Zone Authority (PEZA) will sign a memorandum of understanding (MOU) with the Bangko Sentral ng Pilipinas and foreign and local banks for the provision of credit to ecozone developers and locators.
Charito Plaza, PEZA director-general, said the agency has integrated and put together its efforts to address the lack in efficiency factors with the creation of a credit facility as among the recent initiatives.
PEZA, Plaza said, has been addressing the supply chain and logistics, and transportation hubs.
“We are inviting government agencies, or we are managing public lands and asking private land owners to create different types of economic zones so we can not just develop our idle lands, but (we) likewise (need to) attract different types of industries because we provide them different economic zones as their location of their companies,” Plaza said.
The credit facility will be available not just to industry companies, but also to suppliers, developers, local government units and the government agencies which will be developing ecozones. It can assist farmers cooperatives and small and medium enterprises to be part of the supply chain of locators.
PEZA in the first half of the year registered P 32.057 billion which is 8.52 percent higher compared to last year’s approved investments worth P29.541 billion.
