Thirteen agencies and organizations have signed a memorandum of understanding (MoU) with the Philippine Economic Zone Authority (PEZA) on the latter becoming their investment partner.
In a statement on Thursday, PEZA identified them as the Department of Labor and Employment (DoLE); Blaan Tribe; Joint Industrial Peace and Concern Office; OFW Council of Leaders; European Chamber of Commerce of the Philippines; Overseas Workers Welfare Administration; Kabataan Kontra Droga at Terorismo; Japan Tobacco International; United Filipino Global; Advocates and Keepers Organization of OFWs Inc.; Amigos-Marino Inc.; Bureau of Muslim Economic Affairs; and Australian-New Zealand Chamber of Commerce Philippines.
Under the MoU, the groups shall commit to be a member of the Ka-PIPPs (PEZA›s investment promotion parnters) program and help promote the potential of the Philippines as an emerging economic powerhouse by considering other areas of investment and supporting the country as a priority investment destination.
The program seeks to build partnerships with international and local business chambers and industry associations, people’s organizations, nongovernment organizatons and socio-civic groups to help market and promote PEZA economic zones and investment promotion programs worldwide.
“With the help of investment promotion partners or Ka-PIPPs, we continue to conduct a series of virtual investors forums to constantly brief and update both potential and existing investors on the investment climate in the country during this crisis,” PEZA Director General Charito Plaza said in the statement.
“Through the forums, we continue to motivate and support both potential and existing investors with all the assistance and reliefs that we can provide,” she added.
Besides helping attract investments, the groups will also support PEZA›s Dollar program to help cushion the impact of the coronavirus disease 2019 pandemic on overseas Filipino workers and jobless Filipinos.
PEZA has also partnered with the Union of Local Authorities of the Philippines and local government units to create special economic zones in the countryside.
“Despite the current uncertainties brought about by the pandemic, PEZA continues to bring about investment to the country and create special economic zones, both vertical and horizontal, that will become economic drivers in creating smart towns, cities and new metropolitan areas in every region, with the economic zones as the economic umbrella and driver toward total development,” Plaza said.