The Philippine Economic Zone Authority expressed confidence that more investments would come to Cebu-based economic zones.
“Our locator companies, industry partners and host LGUs have shown their strong will and determination in rising through the difficulties and challenges. In the process, our locators have become resilient as they picked up the pieces and sustained their momentum for enhanced competitiveness and participation in the global market—while sustaining the jobs, livelihood and other economic opportunities within the ecozone ecosystem,” said PEZA director-general Tereso Panga during the MEPZEM Chamber Inc. general membership meeting.
MEPZEM, or the Mactan Export Processing Zone Chamber of Exporters and Manufacturers operates two economic, the MEZ I and MEZ II, and supports over 157 active members.
Panga said PEZA locators in Cebu accounted for 11 percent share in the total PEZA key performance indicators on investments, jobs and exports.
PEZA has 48 ecozones registered in Cebu province with an estimated P 275.1 billion in cumulative investments from 640 locators. Combined exports from the Cebu ecozones averaged $5.9 billion annually, while full-time employees reached 232,076.
PEZA said locators in Mactan Island such as the Mactan Economic Zone I and II, Cebu Light Industrial Park, Jpark Island Resort and Waterpark and Mactan Newtown remitted P267 million in tax payments last year from the 2-percent gross income tax share of the Lapu-Lapu City government.
“With this continuous positive performance, we are anticipating an upturn in the economy especially within the province. At the same time, we are looking at welcoming strategic and big-ticket investments from various industries to locate in Cebu,” Panga said.
PEZA supports the planned expansion of Autoliv Cebu Safety Manufacturing Inc. to a 2.6-hectare area in the northern part of Cebu. Taiyo Yuden Philippines Inc. is also interested in registering with PEZA for a new and expansion project in MEZ.
Panga said PEZA would continue to be open, innovative and protective of locators and was looking forward to sustained presence and expansion of investors that would positively impact employment for LGUs and improve the local economy.
“PEZA will continue to be responsive and vibrant as we facilitate the operations and growth of our valued ecozone investors so we can help propel our economic growth and contribute to the President’s bid for the country to graduate to upper-middle income status within the next four years,” he said.
