-
Japanese investors accounted for P11.26 billion of new investments in PEZA enterprises and US$13.26 billion of export income while providing 351,335 direct jobs from January to September 2022
-
898 Japanese enterprises set up in PEZA economic zones with a cumulative investment of P739.6 billion as of September 2022
-
PEZA is encouraging Japanese investors to invest more in the Philippines, particularly in the current administration’s priority areas of agriculture and renewable energy
-
PEZA has signed an MOU with technology firm Junca Global Partner Inc. and a registration agreement with electronics company Kurabe Industrial Philippines Inc.
The Philippine Economic Zone Authority (PEZA) registered a total of P11.26 billion in new investments and US$13.26 billion in export income from Japanese locators in January to September 2022 while providing 351,335 direct jobs.
As of September 2022, there were a total of 898 Japanese enterprises in PEZA economic zones with a cumulative investment of P739.6 billion, PEZA officer-in-charge and deputy director general Tereso Panga said in a speech during a recent investment mission in Japan.
Japanese investors already are the leading investors in PEZA but Panga said the agency is still encouraging them to invest more, particularly in priority areas of the current administration, namely agriculture and renewable energy.
Trade Undersecretary Ceferino Rodolfo, concurrently managing head of the Board of Investments, noted the Japanese are pioneers and leaders in key areas of renewable energy and digitalization.
“Japan also administered visionary industrial souls that will provide us with full solutions should they decide to locate in the Philippines,” Rodolfo added.
In a roundtable discussion during the investment mission, PEZA inked two strategic partnerships: a memorandum of understanding with technology firm Junca Global Partner Inc. and a registration agreement with electronics company Kurabe Industrial Philippines Inc.
Under the MOU, PEZA and Junca will aggressively promote the Philippines as an investment destination not only for established manufacturing companies in Japan but also for startups that want to collaborate with local startups or micro, small, and medium enterprises that engage in activities under the Fourth Industrial Revolution.
Junca Global Partner Inc. is involved in stem cells biotech, fintech, and blockchain technology.
“With the signed MOU, PEZA and Junca will collaborate in bringing renewable energy technologies to ecozones and thereby enable locator companies to remain globally competitive while contributing to mitigating the effects of climate change pursuant to the Kyoto Protocol and the Paris Agreement,” Panga added.
Panga said these high-tech industries will diversify the country’s investment profile. The biotech industry, in particular, will support PEZA’s bid to attract investments in research and development and pave the way for their commercialization and level up the value chain so the Philippines can compete with big countries on high-tech industries, he said.
Under the registration agreement, Kurabe will manufacture and assemble car seat heaters (CSH), steering wheel heaters (STH), and CSH and STH heating wires. It will operate in a five-hectare lot in Lima Technology Center-Special Economic Zone in Lipa City, Batangas.
RELATED READ: PEZA looking to attract more Taiwan investors
