PEZA Approves P3.61 Trillion Investments & Jobs Generation Reaches 1.4 Billion

The Philippine Economic Zone Authority (PEZA) reported on Monday that the national agency approved a total of PHP3.61 Trillion investments in the past 23 years according to the report presented by PEZA Director General Charito Plaza.


According to the PEZA Director General, aside from bringing in investments to economic zones nationwide, job generation in PEZA zones also reached 1.4 billion.

PEZA also reported that in terms of export the agency revealed that PEZA companies' shared USD706 Billion to the total export revenues of the Philippines from 1995 to 2017. The remittances to the national government also reached P19 billion.



Director General Charito Plaza also stated that apart from contributing to the national coffers, the agency's expenses do not come from the government's budget, because the agency is already self-sufficient.

PEZA companies increased its importation in 2017 to USD39.18 billion or around PHP2 trillion from USD30.90 billion in 2016 according to Plaza.



The local purchases of PEZA firms in 2017 reached PHP296 billion. According to Plaza, the country might lose the billion-peso local purchases from PEZA locators if the zero-rated VAT will be scrapped from incentives menu under the second package of the tax reform program.

Instead of buying from local suppliers, PEZA firms might import their raw materials which some could be tariff-free or with lower duties.

Source: PNA

PEZA Approves P3.61 Trillion Investments & Jobs Generation Reaches 1.4 Billion PEZA Approves P3.61 Trillion Investments & Jobs Generation Reaches 1.4 Billion Reviewed by Phil Newsome on March 06, 2018 Rating: 5
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