The Philippine Economic Zone Authority (PEZA) is seeking investments in manufacturing and ecozone development from China to boost exports.
At the Global Biz event, PEZA director-general Charito Plaza said there are currently 172 CHinese locator-companies registered with the agency, with a combined investments of P24 billion.
Plaza said these companies cumulatively exported $196 million in 2020 and employ 10,518.
Majority of these companies are in manufacturing: from rubber and plastic; fabricated metal products; machinery and equipment; radio, television and communication apparatus and; warehousing and storage.
“Through PEZA’s program, we aim to have more investors from China,” Plaza added.
According to Plaza, PEZA has patterned its ecozone strategy with that of China’s where hubs of industries are created in strategic locations.
She said addressing China’s 1.4 billion population for food is huge that even if the entire Philippines is converted into one agro-industrial ecozone is not enough to meet demand.
