PEZA Director General Lilia De Lima said PEZA zones offer an inviting business environment, as firms that will set up shop here will enjoy incentives such as income tax holidays, government tax exemptions, zero VAT on utilities, employment of foreign nationals up to 5 percent of the total employees, and special visas for immediate family members.
De Lima said Japan remains to be PEZA’s top investor and she hopes to further increase investments this year.
To date, there are 867 Japanese firms in the country mostly involved in manufacturing, metal fabrication, IT, and call centers.
Last year, Japanese investments amounted to P295.09 billion, a 5.58 percent increase from investments in 2014 which amounted to P279.48 billion.
“The Philippines is expanding, it has a very good future and we are expecting Osaka companies to come to the Philippines,” Osaka Vice Governor Hiroshi Ueda said.
“The economic growth is, the rate is high, people are very young, and vivid and very friendly and we think something alike, Osaka people and Filipino people.”
Metro Manila (CNN Philippines) — The Philippine Economic Zone Authority (PEZA) and the Osaka Prefecture Government on Tuesday (January 12) signed a memorandum of understanding to explore the business expansion of Osaka firms in the Philippines.
