BIZ BUZZ: Peza, Citibank unit forge partnership

The local subsidiary of American financial services multinational corporation Citibank, N.A. is the latest partner of the Philippine Economic Zone Authority (PEZA) to accelerate investments in economic zones nationwide.

The PEZA and the Philippine branch of Citibank signed a memorandum of understanding to formalize the latter’s status as the latest investment promotion partner of the government.

As the latest PEZA partner, Citibank will promote the Philippines as a priority investment destination and encourage its vast network of stakeholders and partners across the globe to explore potential opportunities within PEZA ecozones.

“With Citibank’s global reach and financial expertise, we are confident this partnership will help attract more quality investments into PEZA ecozones and position the Philippines as a rising economic powerhouse in Asia,” PEZA Director General Tereso Panga said.

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Here’s hoping that Citibank, a New York-based company operating in more than 180 countries worldwide, will drive the much-needed investments to accelerate economic growth.