PEZA positive on more investments in Cebu
Philippine Economic Zone Authority (PEZA) Director General Tereso Panga remains confident that more investments will come to the province that will accelerate countryside development through the ecozone program.
This comes as Panga addressed the members of the MEPZCEM Chamber Inc. or the Mactan Export Processing Zone Chamber of Exporters and Manufacturers during its annual General Membership Meeting last June 14 where he also expressed appreciation to the investors and PEZA locators in Cebu for its constant contribution to the province and the economy.
“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,” expressed Panga.
Cebu-based locators' contributions account for 11 percent share in the total PEZA KPIs on investments, jobs and exports.
To date, PEZA has registered 48 ecozones in Cebu province with 640 locator companies generating P 275.3 billion in cumulative investments resulting in 232,076 directly generated jobs, and churning out $ 5.9 billion annual average exports.
PEZA locators alone in Mactan island such as the Mactan Economic Zone (MEZ) I and II, Cebu Light Industrial Park, Jpark Island Resort and Waterpark, and Mactan Newtown remitted a total P267 million in tax payments last year from the 2 percent gross income tax share of the Lapu-Lapu City government.
Panga noted, “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 also met with locator companies in Cebu who have expressed their interest for various investment projects in the province.
PEZA is supportive of the plans of Autoliv Cebu Safety Manufacturing Inc. for an expansion project at a 2.6-hectare area in the Northern Part of Cebu. Taiyo Yuden Philippines Inc. also expressed its interest in registering with PEZA a new and expansion project in MEZ. PEZA Corporate Communications Division
