PEZA at BFBCI Bangsamoro Summit: Php3.75-T Investments, US$760.5-B Exports
By EDD K. USMAN, SDN, Twitter @edd1819, Instagram @bluestar0910, Facebook: SDN — Science, Digital & Current News
THE Philippine Economic Zone Authority (PEZA) is on a roll under the intensely forward-looking leadership of Director General Dr. Charito B. Plaza.
She was at the 1st Bangsamoro Global Economic Summit which the Bangsamoro Federal Business Council, Inc. (BFBCI) organized on Monday, Aug. 19, at the landmark and historic Manila Hotel, Metro Manila.
Plaza urged the Bangsamoro Autonomous Region of Muslim Mindanao (BARMM) to make use of the region’s idle lands through the establishment of economic zones (EZs).
She described EZs as magnet for investments, particularly from foreign enterprises.
For a start, here are some figures the PEZA head cited in her presentation.
Among its chief contributions include 64 percent of the Philippines’ commodities exports and 80 percent of export services the world’s various markets.
From 1995 to 2018, it has earned a cumulative total of investments at Php3.754 trillion and total exports worth US$760.505 billion, and rising.
PEZA also contributed US$54.221 billion to the country’s gross domestic product (GDP) through its export in 2018 out of the total GDP of $332.85 billion.
Need we say more?
Under Plaza’s leadership, PEZA has now scaled up the number of operating EZs (OEZs), from 16 to 395.
Of the total OEZs, 277 cater to information technology (IT) Parks and Centers; 74 to manufacturing; 22 to agro-industrial; 19, to tourism; and three to medical.
It now has 4,341 enterprises from a mere 331 in its multi-sites.
Continuing her presentation, Plaza said PEZA created 1,508,727 total direct employment by the locator-enterprises, which is 7,543,635 total direct and indirect employment, taking into account breadwinners have an average of five mouths to feed.
In essence, she said that one in every five Filipinos, or 22,630,904, is impacted by PEZA’s EZ Program. (SDN)
To be updated.