02 February 2017 RIYADH – Philippine Economic Zone Authority (PEZA) Director General Charito B. Plaza invited Saudi Arabian investors to invest in the Philippines through a presentation on on “Opportunities for Saudi Arabian Investors in Philippine Economic Zones” during an investment conference at the RCCI Building on February 14.
The PEZA head laid down opportunities in the Philippines for Saudi investors especially in untapped sectors like oil and gas refinery.
She highlighted to an audience of Saudi businessmen and representatives of Saudi-based companies the advantages of investing in the Philippines and why doing business with PEZA is beneficial to Saudi investors.
According to her, investors will be enjoy benefits such as tax holidays, special rates and other allowances granted to PEZA investors, special visa for foreign investors and immediate family members, employment of foreign nationals, long-term land lease up to 75 years.
Dir. Gen. Plaza announced that PEZA’s new theme is “Revolutionizing PEZA”, where the goal is to industrialize the Philippines by building industrial cities.
Presidential Adviser on OFW and Muslims Concerns, Sec. Abdullah Mamao, who is also in KSA for an official visit vouched for the efforts of PEZA in promoting and encouraging Saudi investors to do business in the Philippines.
He said that the present administration plans to develop Mindanao not only to boost the country’s economy but also to elevate the quality of life in areas with high Muslim-Filipino concentrations. He added that the creation of an export processing zone in Mindanao is being eyed.
The conference culminated in the signing of an Expression of Cooperation between PEZA and Future Formation Holding (FFH), an investment holding company based in Riyadh.
PEZA, an attached agency of the Department of Trade and Industry, is the government agency tasked to promote investments, extend assistance, register, grant incentives to and facilitate the business operations of investors in export-oriented manufacturing and service facilities inside the economic zones in the Philippines. As of November 2016, there are 3,903 PEZA locator companies in the economic zones in the Philippines. There are presently two (2) Saudi Arabian companies in PEZA economic zones: 1) Saihati Group International Corp. and 2) MB Plus B Group International Inc. END
