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7:02 pm on 26 October 2022, Wednesday
The Philippine Economic Zone Authority (PEZA) benchmarked the Philippines as an investment haven in Asia in the recently concluded “Philippine-Korean Investment Forum”.
In a statement, PEZA said the forum is part of the five-day outbound investment mission in South Korea in partnership with Aboitiz InfraCapital Inc., the Department of Trade and Industry (DTI) and Board of Investments (BOI).
The Philippine Trade and Investment Center (PTIC) - Seoul also joined the forum to attract more Korean investors to the Philippines.
“PEZA is eagerly conducting investment promotion in the last quarter of 2022 to sustain its approved PhP 40 billion of investments [from January to September 2022],” PEZA’s statement read in part.
To date, 251 South Korean locators are contributing P89.864 Billion in investments from 1995 to June 2022.
These companies also generate $1.102 billion in exports and employ 44,359 workers as of August 2022.
These companies are engaged in activities such as manufacturing radio, television, and communication equipment and apparatus; fabricated metal products, except machinery and equipment; rubber and plastic products; real estate activities; and wearing apparel.