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The Philippine Economic Zone Authority said it remains optimistic in achieving its P200-billion investment target for 2024, despite a global slowdown in foreign commitments.
The bicameral conference committee of the Senate and the House of Representatives earlier approved the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy bill. Panga cited several factors that support PEZA’s positive outlook including the upcoming outbound investment missions planned for Taiwan, Japan and Singapore that are expected to generate more foreign direct investments.
Adding to these are the new ecozone developments such as pharma ecozones, aqua-marine Parks, KIST industry excellence centers and integrated steel mills which would diversify investment sources and industries.
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