The Philippine Economic Zone Authority is working out a flexible work arrangement with incentives similar to perks granted to registered business enterprises that transferred their registration to the Board of Investments.
PEZA director-general Tereso Panga said this is one of the several requests of the Japanese Chamber of Commerce and Industry of the Philippines Inc. during the general membership meeting held on May 17, 2023.
“JCCIPI members are asking whether PEZA has resolved the issue on work-from-home. Their clamor is for PEZA RBEs to be able to avail of flexi-work with incentives following the same treatment for BOI RBE. Most of our locators would like to keep their PEZA registration and sites, while availing of flexi-work for their workers,” he said.
Panga said PEZA never stopped pushing for the continuation of the hybrid work set-up with maximum 30-percent allowance for WFH to PEZA locators.
PEZA, together with the Department of Trade and Industry and the Office of the President are working to streamline the process of economic zone proclamation particularly ecozones that are located in the countryside, as directed by the President.
“This is one of the concerns of the Japanese companies as they ask if the Philippine government can speed up the process for economic zone proclamation to provide ready for occupancy sites for new and expanding investors,” he said.
JCCIPI president Shigeru Shimoda recognized PEZA’s efforts in providing valuable insights and perspective to Japanese companies.
“We look forward to future collaborations and opportunities to work together in promoting bilateral business relations and economic growth,” Shimoda said.
There are 884 Japanese enterprises in PEZA with combined investments of P745.637 billion and employing 345,807 workers.
PEZA approved three big-ticket Japanese investments with combined investments of P20.951 billion in the first four months.
PEZA expressed optimism that more foreign direct investments, especially from Japan, would enter the Philippines this year.
“It is now up to us to follow through the investment pledges we received during the various investment missions abroad. We count on strengthening our partnership that would further bolster the trade and investment relations of Japan and the Philippines as we gear towards catering to more strategic and big-ticket investments in the country, especially those that are coming from Japan,” Panga said.