PEZA Director General Promotes PH as Investment Haven in LA
The personnel of the Philippine Consulate General in Los Angeles headed by Consul General Adelio Angelito S. Cruz (first row, third person from the left), with Philippine Economic Zone Authority Director General Charito B. Plaza (first row, center) and Trade Commissioner May Niña Celynne P. Layug (first row, fifth person from the left) during the investment forum. (Los Angeles PCG photo)
LOS ANGELES 01 April 2019 – The Philippine Consulate General in Los Angeles, in collaboration with the Philippine Trade and Investment Center (PTIC), arranged the visit of Philippine Economic Zone Authority (PEZA) Director General Charito B. Plaza in Los Angeles.
The Consulate General and PTIC accompanied Director General Plaza to a series of business meetings with international companies from 07 to 08 March 2019 to explore possible partnerships and establishment of investment ventures in the Philippines. The team met the key officials of the Ever Win Interantional Corp., Los Angeles Port, Mattel Inc., and The Marvin Group.
During the meetings, Director General Plaza highlighted the advantages of locating an investment within an economic zone managed by PEZA such as the right to repatriate investments, remit earnings, access to foreign loans and contracts, freedom from expropriation, and non-requisition of investments.
The PEZA Director General underscored that one of the greatest advantages of investing in the Philippines is access to a young, dynamic, English-speaking, and highly literate workforce. Filipinos are known across the globe as highly skilled and dedicated workers.
In the evening of 07 March 2019, Director General Plaza delivered a talk at the Consulate General entitled, “Opportunities for American Investors in Philippine Economic Zones."
The forum gathered 119 attendees composed of various Filipino and American entrepreneurs, economic development agencies in Los Angeles, members of Filipino community organizations including Filipino-American Chambers of Commerce in Southern California, and media practitioners.
Director General Plaza emphasized the current thrust of PEZA of revolutionizing the concept of ecozones to breed smart towns and digital cities, I line with the President Rodrigo Duterte 10-point socioeconomic agenda.
In his welcome remarks for the event, Consul General to Los Angeles Adelio Angelito Cruz said that the conduct of the forum was part of the Consulate General’s commitment to intensify its economic diplomacy program in southern California.
In February alone, the Consulate General was able to partner with the Coalition of Filipino American Chambers of Commerce (COFACC) and the Federation of Philippine American Chambers of Commerce in organizing two franchising seminars.
The forum was capped with the signing of a Memorandum of Understanding (MOU) between Director General Plaza and five Filipino-American organizations namely, COFACC, Planet 6.3, Singson Real Estate, United Bicolandia of Los Angeles, and Binibining Maharlika USA. By signing the MOU, these organizations agreed to be PEZA’s new “Investment Promotion Partners”, also known as Ka-PIPPs’, in southern California. END
Left photo: Consul General Adelio Angelito Cruz highlights the importance of creating special economic zones to attract direct foreign investments. Right photo: Philippine Economic Zone Authority Director General Charito Plaza encourages the participants to help boost the Philippine economy by becoming more proactive in inviting foreign investors to establish their businesses in the country. (Los Angeles PCG photo)
Signing of the Memorandum of Understanding between the Philippine Economic Zone Authority Director General and five Filipino community organizations in southern California. (Los Angeles PCG photo)
For more information, visit www.philippineconsulatela.org or https://www.facebook.com/PHLinLA/.