16 na mga bago at expansion projects, inaprubahan ng Philippine Economic Zone Authority;
Trabaho para sa mga Pilipino, hatid ng mga bagong expansion project;
PEZA, patuloy ang trabaho para makahikayat ng investors sa energy intensive investments
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Trabaho para sa mga Pilipino, hatid ng mga bagong expansion project;
PEZA, patuloy ang trabaho para makahikayat ng investors sa energy intensive investments
For more news, visit:
►https://www.ptvnews.ph/
Subscribe to our DailyMotion Channel:
►http://www.dailymotion.com/peoples-television-incorporated
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►http://www.youtube.com/ptvphilippines
Like our Facebook pages:
►PTV: http://facebook.com/PTVph
►Rise and Shine Pilipinas: https://www.facebook.com/riseandshinepilipinas
Follow us on Twitter:
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Watch our livestream on:
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►https://www.dailymotion.com/PTVPhilippines
Watch our News Programs, every Mondays to Fridays
Rise and Shine Pilipinas - 6:00 - 8:00 am
Bagong Pilipinas Ngayon - 12:00 - 1:00 pm
Sentro Balita - 1:00 pm - 2:00 pm
Ulat Bayan - 6:00 pm - 7:00 pm
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NewsTranscript
00:0016 projects approved by the Philippine Economic Zone Authority and Singaporean Investments
00:06are being pushed by the government.
00:08We will discuss this with Director-General Tereso Panga of the Philippine Economic Zone Authority.
00:15DG Panga, good afternoon.
00:19Good afternoon, Nina, Commissioner Lumagi, Director Henson, and to all of your televiewers.
00:27First of all, what are the 16 new and expansion projects approved by the Philippine Economic Zone Authority?
00:35And how much are the total expected investments that can be generated?
00:41Well, yes, good news to our countrymen.
00:45We had a board meeting last September 23.
00:50We were joined by our PESA Board Chairman, Secretary Chris Roque, and Secretary Frederick Go, of COSAPIA.
01:00We were able to register 16 new and expansion projects.
01:05There are 8 breakdown projects, Export Manufacturing, 5 ITBPM, 1 Facilities, 1 Logistics, and 1 Ecozone Development.
01:17So, the total capital investment approved by PESA from these 16 projects reached P54 billion.
01:26So, this is a lot bigger, three times bigger than what we approved in the same period last year.
01:34So, we can expect that aside from the investments, even the increase in exports, which is 20% higher from these 16 projects, will also be realized.
01:48The additional jobs are also expected from these projects.
01:53How many jobs can these approved projects provide?
01:58And where will the approved projects be located?
02:04So, the 16 projects that I mentioned will generate an additional 4,000 jobs.
02:10But overall, towards the end of the year, we are expecting an additional 60,000 to 80,000 new jobs for our Filipinos.
02:20So, our Ecozone Development is pretty much catered to rural areas and new growth areas.
02:28Although most of these are still in the Calabar Zone, we have 11 projects there.
02:33But we can see that we also have two in Cebu, we also have one in NCR, and we also have one in Pampanga in the Central Zone.
02:43From which industries are these approved projects?
02:47And overall, how many projects were approved by PESA this year?
02:53For our industries, basically, we cater to electronics being our number one sector.
03:00That's 32% of the total product sector of PESA.
03:05So, that's where most of the export manufacturing will enter.
03:09That's also included in our IT center, which accounts for 12%.
03:15So, for January to September 2024, we have approved a total of 179 new and expansion projects.
03:25So, this will generate an additional $2.5 billion in exports and boost employment by 35,871 new jobs.
03:36Overall, we have reached $115 billion worth of investment.
03:43So, this is the first time by PESA in September that we were able to achieve a positive growth.
03:49So, towards the end of the quarter, where historically we can expect a surge in investments,
03:55we're still bullish that we'll be able to achieve our $200 billion target for the year.
04:01In other talks, how was your three-day visit to Singapore?
04:07And what were the details and results of this visit?
04:12Well, there's also good news.
04:15We were with the economic managers.
04:18They held a briefing on the Philippine economic outlook.
04:23This was led by Secretary Recto.
04:27He was also with the secretaries of DBM, NEDA, DOST, and DEVED.
04:35Where we invited our leaders in Singapore to invest in the Philippines.
04:42For example, Singapore, although they are number six as biggest investor in PESA,
04:48they're actually number four top biggest investor in the Philippines.
04:53So, we have a lot of Singaporean investors.
04:59Aside from the economic managers' briefing, we also held an investment forum
05:04led by OITC Infra Capital.
05:08We were with PCCI to promote new industrial parks, new developments
05:15that can provide for the best location and the best ecosystem for our investors.
05:22Sir, how was your assistance to the officials of High Peace Singapore and ST Engineering?
05:31Well, the result of our meeting was good.
05:35ST Engineering is one of the biggest companies in Singapore.
05:42They are also a global player.
05:44So, they assured us that they're looking strongly at the Philippines as their next investment site.
05:51In fact, they are also in Clark, BCDA, exploring smart city development.
05:57But we at PESA, we presented to them a huge opportunity to be investing in aviation engineering
06:05including MRO.
06:07At PESA, among our prized locator companies in aviation, there is MOAB.
06:13There is Japan Aviation.
06:15There is Collins Aerospace.
06:17So, we were telling them that it's about time that they put up a new facility in the Philippines.
06:24Another company that we talked to is Hypee, which is also a big company in Singapore.
06:31As of now, they have been listed as having 4 billion pesos in investments,
06:384,000 jobs already created.
06:40They are the biggest subcontractor of Dyson.
06:44And because Dyson continues to grow in the Philippines,
06:47this will also necessitate their putting up more projects in the Philippines.
06:53Can you share with us what this Create More Bill is and how big of a help it is to the population?
07:02Well, this is a big thing.
07:04In fact, we have with us Commissioner Lumagi, Secretary Recto, FIRB.
07:11So, this Create More will even strengthen the competitiveness of the Philippines,
07:17not just in terms of fiscal incentives.
07:20Right now, we can offer the most generous incentives package for investors.
07:26So, this was strengthened by Create More because on top of the more than 17 years
07:33that we are providing to export-oriented industries,
07:37we will add 10 more years so that that will make it 27 years of length of running of incentives.
07:45Across ASEAN, it's only 5 to 15 years.
07:49So, it's already high, but more than that, we're also into enhancing the ease of doing business
07:55and in the course of providing for all these fiscal incentives,
07:59this will also lead to reduce costs of doing business for investors in the Philippines.
08:05The 20% regular corporate income tax rate that we will now offer to investors in the ecozones
08:13will provide parity in terms of the incentives that are being extended by other ASEAN economies.
08:19So, we're the same with the likes of Vietnam and Thailand.
08:23So, definitely our 20% CIT rate is lower than what Indonesia offers currently at 25% and Malaysia at 24%.
08:33Okay.
08:34So, for now, what are the next steps for PESA so that it will be able to advance
08:40especially in terms of energy-intensive investments?
08:44Well, yes.
08:46That's a good question because when we were in Singapore,
08:50we were actually put on the spot because investors have been telling us that it would appear
08:55Philippines being not so competitive because of the high cost of power.
08:59So, we debunked that when we showed that the ongoing rates in the economic zones
09:05would range from 9 cents to 12 cents per kilowatt hour
09:09and that is more than enough to approximate the subsidized power rates extended by our ASEAN neighbors.
09:16So, how exactly we're able to do that?
09:19Number one is we are promoting the distributed energy system.
09:23So, simply put, this is the incentive for power utilities including water
09:30to set up their facilities right inside the economic zones
09:34because with that, that will reduce cost of power because it's devoid of transmission charges.
09:39We also have the Department of Energy there.
09:42They have a Green Energy Options Program in partnership with USAID
09:48wherein they are encouraging locator companies to invest or access renewable energy sources,
09:56invest in sustainable development practices, and also energy efficiency programs.
10:04Okay.
10:05Please send your message, Director General, to our fellow Filipinos from PESA.
10:11Well, yes.
10:13Thank you very much for this opportunity.
10:15We want to tell our fellow Filipinos that our economy is improving.
10:21So, we are second in terms of GDP growth rate.
10:25Also, we're now number four.
10:27We're inching up in the FDI race.
10:29That makes the Philippines one of the best performing economies in the region.
10:33So, taking the cue from the President, he wants to position the Philippines to be the smart and sustainable manufacturing hub.
10:41The Philippines is open for business.
10:43And so, with the economic zones, we are ready to welcome investments
10:47because in the course of doing that, as we attract investments,
10:51this will lead to creation of more jobs, livelihood, economic opportunities for the host LGUs.
10:57So, our fellow Filipinos can hope that as our country grows,
11:02together with our ecosystem development program,
11:05the livelihood of our fellow Filipinos will also increase.
11:12Thank you very much for your time, Director General Tereso Panga of the Philippine Economic Zone Authority.