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PEZA sees increase in investor confidence ahead of Marcos’ US visit

The Philippine Economic Zone Authority (PEZA) on Saturday said there was an increase in confidence among local and foreign investors to expand their operations in the Philippines due to the official visit of President Ferdinand “Bongbong" Marcos Jr. to the United States next week.

“The impact of the presence of the President in the United States really strengthened iyong confidence po ng ating mga  investors na mag-invest dito sa Pilipinas (the confidence of the investors to invest in the Philippines),” PEZA Deputy Director General Aleem Siddiqui Guiapal said at a media forum in Quezon City.

Despite the challenges in attracting investors, Guiapal said the President created a “positive image” through his foreign visits, adding that this is an important factor in introducing the Philippines to the global market.

“Katulad nga po ng kanyang state visit this coming April 30 to May 4 sa United States. Iyon po iyong political will na binabanggit natin na kung saan, when there’s good governance, there’s political will, iyong mga challenges na nabanggit natin sa energy sector napupunan po iyon ng mga sistemang pinapanukala ng ating pamahalaan,” Guiapal said.
(Just like his state visit this coming April 30 to May 4 in the United States, that is the political will that we are talking about where, when there's good governance, there's political will, and those challenges that we mentioned in the energy sector are addressed by the systems proposed by our government.)
During the President’s visit to the US, the Philippine government will be carrying several messages to American investors, including "coherence and a whole-of-ecosystem approach,” he added.
He said that the PEZA registered around P140 billion in investments, with the total number of foreign direct investment (FDI) inflows coming from the US at around $10.5 million in the last quarter of 2022.
He added that the country’s major investors are from Japan, the US, the European Union, and South Korea.

Close to 400,000 people work within the economic zones, and PEZA plans to increase the number of personnel by 10%, Guiapal said. — VBL, GMA Integrated News