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PNoy lauds PEZA for P3.16-T investments

The Philippines remains one of fastest growing economies in Asia with investments facilitated by the Philippine Economic Zone Authority (PEZA) reaching P3.16 trillion and counting, President Aquino hailed on Thursday night.

At the 21st PEZA anniversary celebration and Investors’ Recognition Night, the President lauded the influx of investments in the country and credited the government agency led by Lilia de Lima for boosting business confidence.

“Every time I have spoken about PEZA as President, it has been with an immense amount of pride and just as much confidence,” Aquino said in his remarks.

“The numbers themselves tell us just how much PEZA has contributed to the Philippines. Under Director-General De Lima’s watch, there have been R3.16 trillion in total approved investments, consequently generating almost 1.2 million jobs,” he added.

Aquino said the investment number are likely to increase with establishment of a 63-hectare economic zone in Davao, the possible expansion of Osaka-based companies in the Philippines, and PEZA’s continued efforts to convince even more companies to set up shop in the Philippines.

He said internal reforms also paved the way for more efficient operations in PEZA eco-zones, from an electronic application registration system, to the pilot electronics zone transfer system that hasten delivery of parts and supplies to export manufacturing enterprises.