(ALI VICOY / FILE PHOTO / MANILA BULLETIN)
Indian Ambassador to the Philippines Shambhu Kumaran and First Secretary Nishi Singh paid a courtesy visit to the PEZA head office last week to discuss business opportunities in the Philippines for Indian investors.
There are currently around 28 Indian companies registered in PEZA. Of these, 21 are registered as information technology-business process outsourcing (IT-BPO), five as manufacturing, and two under various enterprises.
“The past year has been a bit of a setback to everyone but I feel that fundamental trends indicate that the Philippine economy continues to grow positively and energetically into the future,” Kumaran said during his visit.
PEZA strengthens partnership with India, attracts more investors to PH pia.gov.ph - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from pia.gov.ph Daily Mail and Mail on Sunday newspapers.
The Philippine Economic Zone Authority (PEZA) and Bureau of Internal Revenue (BIR) are investigating two PEZA-registered cigarette manufacturers for allegedly having deficient papers.
Believed to be haven for smuggling activities notwithstanding the hundred of billions in tax incentives granted to them by government, the country’s economic zones have been described in the House of Representatives as the country’s “trillion-peso blackhole” of unrealized revenues.
(PEZA)
The state-run agency conferred the “Galing Pinas Ecozone Investment Partnership Award 2021” during its 26th anniversary celebration last month in recognition of their partners’ “relentless assistance, contribution, and support to PEZA’s programs”.
PEZA Director General Charito Plaza said the awardees’ efforts cover areas in economic zone development, investments promotion, community projects, policy, and legislative actions or advocacies aimed at the overall goal to fully industrialize and promote the Philippines as an investments haven in Asia.
According to PEZA, the list of awardees was divided into seven categories government partners, Investment Promotion Agencies (IPAs), the PEZA Board, Industry Associations, Foreign Chambers, various stakeholders, and its selected investment promotion partners (Ka-PIPPs).