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Friday, March 29, 2024

Japan firms invest P1.8b in ecozones

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Japanese companies invested P1.8 billion in economic zones in the first fourth months, according to the Philippine Economic Zone Authority.

PEZA deputy director-general Tereso Panga said about 16 Japanese companies invested in the Philippines from January to April. These included seven in export manufacturing, four IT companies, two in facilities operations and three logistics providers.

Data from the agency showed that Japanese investments accounted for 27 percent of total investments in economic zones since 1995.

“When it comes to ecozone foreign direct investments, the Japanese has always been the number 1 investor of PEZA. Since 1995 up to April 2021, 974 Japanese locators have poured P716.22 billion into the country’s ecozones out of total P2.63 trillion in ecozone investments approved by PEZA. We remain bullish that the Japanese will continue to be our number 1 investor in PEZA not only this year but for many years to come,” said Panga.

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