Japan continues to be the number one country-source of foreign investments in the economic zones, according to the Philippine Economic Zone Authority (PEZA).
Sixteen Japanese firms have signed their registration agreements with PEZA in the first four months of the year, bringing with them P1.8 billion worth of investments.
Theo Panga, PEZA director-general, said these investments are in manufacturing for export as well as facilities and logistics and will generate jobs for 1,142 Filipinos.
According to Panga, since 1995 up to April 2021, 974 Japanese locators have poured P716.22 billion into the country’s ecozones out of total P2.63 trillion in ecozone investments approved by PEZA during the period.
“Given the current 27 percent share and steady increase of Japanese ecozone investments even amid pandemic, we remain bullish that the Japanese will continue to be our number one investor in PEZA not only this year but for many years to come,” he said.
PEZA believes Japanese foreign direct investments (FDIs) into the country can be boosted further with the Philippines tapping more into the Philippines-Japan economic partnership agreement for improved market access.
Panga said the Japanese government has been encouraging its local small and medium enterprises as well as large export manufacturing companies in China to locate in the Philippines.
PEZA recently hosted a testimonial and briefing for the Japanese ambassador to the Philippines Kazuhiko Koshikawa.
