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In a few weeks, the government is set to announce the appointment of Philippine Economic Zone Authority’s (PEZA) new Director General who is expected to steadfastly pursue the agency’s mandated tasks to gain and entice more investors in the country.

“We hope that PEZA’s new Director General will parallel if not surpass the performance of his or her predecessor’s remarkable accomplishments,” Trade Secretary Ramon M. Lopez said.
 
The Chief Executive or the President appoints the post of PEZA Director General, which is corresponding to the rank of an Undersecretary in the Department of Trade and Industry (DTI).
 
Lopez added that PEZA along with DTI’s Investment Promotion Group are expected to attract more investors to invest and expand inside the country’s economic zones as well as outside of these zones.
 
“With the government’s seasoned investment promotion team composed of various agencies and offices here and abroad, we will continuously attract investments to generate more jobs for the country’s workforce, and vigorously generate export revenues,” Lopez said.
 
As of last year, PEZA-registered enterprises directly employ a total of 1,264,263 people. In the same year, PEZA exports reached $43.97 billion from its 3,756 export-oriented companies that account for 70 percent of the country’s total exports.
 
“In allowing these businesses to flourish in the country, we spur growth not just by creating quality jobs and generating income but also by spawning other economic opportunities particularly in areas outside Metro Manila,” Lopez said.
 
Lopez noted that the DTI will work on increasing the linkage of these businesses with the domestic economy as well as with micro, small and medium enterprises (MSMEs).
 
He added that he envisions local entrepreneurs, not just the large and medium, to take part in strengthening the country’s economic growth and improving the quality of life of all Filipinos. In achieving this goal, Lopez mentioned the 7Ms or mindset changing, mastery, mentoring, money, market access, machines, and models of business.
 
Lopez said that the new leaders who will be in charge of the country’s investment development and promotion are expected to persistently pursue service with utmost devotion and dedication for the Filipinos and ensure that the people will reap the gains from the country’s sustained economic growth.
 
“With the recent ‘BBB+’ score of Philippines by the Japanese debt watchdog, we are confident that under the Duterte administration, the country will sustain and build on its robust economic growth by pursuing additional reforms to generate investments,” Lopez added.
 
Japan Credit Rating Agency, Ltd. (JCR) recently announced that it was keeping the Philippines’ credit rating of “BBB+,” which is just a notch away from a rating within the “A” category.  This rating is the Philippines’ highest credit rating, and one notch above the global credit rating agencies’ investment grade rank to the country. Moody’s Investors Service rated the country at Baa2, Standard & Poor's Financial Services (S&P) at BBB, and Fitch at BBB-.
 
Elmer San Pascual, Manager of PEZA’s Promotion and Public Relations, said that they are currently working on making business in PEZA as easy as possible. He cited they are looking at reducing the number of days before they are able to issue permits, such as building and occupancy permits. Their target is no more than three days.
 
San Pascual also said that they are looking forward to anyone who will be appointed by the President. Currently, Deputy Director General Justo Porfirio Ll. Yusingco has been designated as Officer-in-Charge of PEZA.

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