PRESS RELEASE
PR-025-2017
PEZA CONDUCTS INVESTMENT CONFERENCE IN RIYADH
(Philippine Embassy in Riyadh Officer-in-Charge, Christopher Patrick T. Aro, PEZA Director General Charito Plaza and Sec. Abdullah Mamao pose for pictures with some of the participants)
(21 February 2017) – The Philippine Economic Zone Authority (PEZA), in coordination with the Philippine Embassy in Riyadh and the Riyadh Chamber of Commerce and Industry (RCCI) conducted an Investment Conference in the RCCI Building on 14 February 2017. The PEZA delegation was headed by Director General Charito B. Plaza.
Saudi business owners and representatives of various Saudi-based companies attended the conference, together with some members of the Filipino community.
Philippine Embassy in Riyadh Officer-in-Charge, Christopher Patrick T. Aro, welcomed all the participants to the conference.
Dir. Gen. Plaza gave a presentation on “Opportunities for Saudi Arabian Investors in Philippine Economic Zones” where she highlighted the advantages of investing in the Philippines and why doing business with PEZA is beneficial to Saudi investors. Some of these benefits include the grant of incentives like tax holidays, special rates and other allowances granted to PEZA investors, special visa for foreign investors and immediate family members, employment of foreign nationals, long-term land lease up to 75 years, and the unequalled service of PEZA.
Dir. Gen. Plaza announced that PEZA’s new theme is “Revolutionizing PEZA”, where the goal is to industrialize the Philippines by building industrial cities.
The PEZA head laid down opportunities in the Philippines for Saudi investors especially in untapped sectors like oil and gas refinery.
(DG Charito Plaza discussing her presentation before Saudi businessmen and members of the Filipino community)
Also present during the conference is Presidential Adviser on OFW and Muslims Concerns, Sec. Abdullah Mamao, who is also in KSA for an official visit. Sec. Mamao delivered a short message acknowledging and reinforcing the efforts of PEZA for promoting and encouraging Saudi investors to do business in the Philippines. He conveyed that the present administration has plans for developing Mindanao, not only to boost the economy but also to elevate the quality of life in the area where most Muslim-Filipinos reside. He said that the creation of an export processing zone in Mindanao is being eyed to achieve this goal.
The participants and PH government officials also engaged in an open forum discussing various issues and concerns in doing business in the Philippines.
The conference culminated in the signing of an Expression of Cooperation between PEZA and Future Formation Holding (FFH), an investment holding company based in Riyadh.
PEZA, an attached agency of the Department of Trade and Industry, is the government agency tasked to promote investments, extend assistance, register, grant incentives to and facilitate the business operations of investors in export-oriented manufacturing and service facilities inside the economic zones in the Philippines. As of November 2016, there are 3,903 PEZA locator companies in the economic zones in the Philippines. There are presently two (2) Saudi Arabian companies in PEZA economic zones: 1) Saihati Group International Corp. and 2) MB Plus B Group International Inc.
More information on PEZA may be found at their website at www.peza.gov.ph. - END
