THE Philippine Economic Zone Authority said two manufacturing firms involved in automotive safety supplies and electronic components plan to expand and register with the agency in the Mactan Economic Zone in Cebu.
The Peza chief also noted that Taiyo Yuden Philippines Inc. expressed interest in registering with the investment promotion agency a new and expansion project in the Mactan Economic Zone.“I look forward to your sustained presence and expansion plans because these have a direct impact on generating employment for our [local government units] LGUs and as a whole improving the local economy of the Philippines,” he said.
To date, PEZA has registered 48 economic zones in Cebu province, with 640 locator companies generating P275.3 billion in “cumulative” investments. This, it noted, resulted in 232,076 directly generated jobs and churned out US$5.9-billion annual average exports. Meanwhile, Panga told reporters on the sidelines of the launch of the Philippine Exports Development Plan 2023-2028 that in their consultation meetings with industries, Peza’s industry partners in Mactan, Cebu and members of the Japanese Chamber of Commerce and Industry of the Philippines Inc. have raised issues on the work-from-home arrangements.