THE Philippine Economic Zone Authority (PEZA) expects foreign direct investments (FDIs) to pick up following President Ferdinand “Bongbong” Marcos Jr.’s trip to the World Economic Forum meeting in Davos, Switzerland. 카지노사이트
Speaking at a news forum on Saturday, PEZA Deputy Director General Aleem Siddiqui Guiapal said the President’s participation in the annual gathering, during which the global business and political elite discuss pressing world issues, would boost investor confidence in the country.
“The President’s program is good and sound. First and foremost, the political will of a certain country to ensure that business climate and landscape are good for investments, especially FDIs, is a good message,” Guiapal said.
He also reported that investments approved by the PEZA jumped 103 percent to P140.7 billion in the last quarter of 2022.
While these remain commitments and not actual investments, Guiapal said that the PIZZA was following up with the prospective investors.
“Sometimes, the agency also has to travel out of the country to meet them or they just go here and we tour them on possible locations where they can locate,” Guipal added.
He claimed that the start of the year was already very busy for the PEZA.
“We have a lot of prospective investors visiting us,” Guipal said, adding that some of the investors are from countries earlier visited by Marcos.
Trade Undersecretary and Board of Investments managing head Ceferino Rodolfo, meanwhile, pointed to “game-changing reforms” pursued by the Marcos administration, including amendments to the implementing rules of the Renewable Energy Act of 2008 to allow 100-percent foreign capital.
“[T]his is very important, [as] the very perennial complaint from investors with regards to our country is we not only have a high energy cost but it is higher in comparison with our neighbors in the Asean (Association of Southeast Asian Nations),” Rodolfo said.온라인카지노