The Philippines Economic Zones Authority (PEZA) is doing such a good job that they have had to expand the number of economic zones throughout the Philippines because the current ones are becoming full.
There are 271 Philippines economic zones spread tthroughout the country from the inner cities to rural areas. In an enlightened move, some of the Philippines economic zones are floors in multi-storey high rise office blocks in the business district in Makati, in central Manila.
The Philippines is rapidly turning into a prime business and investment location, which continues to attract foreign investors.
Philippine Economic Zone Authority (PEZA) Director General Lilia de Lima announced recently that most of the existing Philippines economic zones in the country have been fully occupied by companies.
“We have now 271 operating economic zones and the developers are developing more Philippines economic zones because a lot of them are already fully occupied,” said de Lima.
She also said that the Philippines will never run out of sites for new ecozones because there are substantial underdeveloped areas.
Ecozones that are in the midst of expansion include the First Philippines Industrial Park in Batangas and the Laguna Techno Park in Laguna. Meanwhile, the Industrial Science Park also in Laguna will open a new site.
“And they have to be prepared for the companies that are coming,” she added.
De Lima is also urging the Philippines economic zones in the country to work on more developments and expansion because the economy is upbeat and progressing well.
The PEZA head said that they are in talks with several countries to pour investments into the country.
“Philippines could offer the best advantage for companies that want to expand abroad. We have huge human resources or human capital, it’s really the best. And many of these countries are aging societies, even in Europe, they’re aging, so they have the technical expertise, the technology, they have the capital, but they don’t have human capital, and we can offer the best human capital,” de Lima said.
“We will never run out of people because annually, over 1 million Filipinos reach working age, so no one can beat us,” de Lima said.
PEZA is pushing for manufacturing activities as well as the information technology and agro-industrial investments within the Philippines economic zones, because these could provide more jobs for Filipinos, de Lima added.
Further information on PEZA and the Philippines economic zones can be obtained at www.peza.gov.ph.