Peza approves 3 new economic zones
The Philippine Economic Zone Authority (Peza) on Monday said it had approved the registration of three new economic zones that are expected to create around 600 fresh jobs.
The three ecozone enterprises which have committed to invest an initial P98.43 million, are Tsuneishi Green Energy Philippines, Inc., export firm Wenshan Electronics Philippines, Corp., and information technology company Tractebel Red, Inc.
Peza said that the Tsuneishi would contribute to renewable energy development in the country through its roof-mounted solar facility at West Cebu Industrial Park in Balamban, Cebu.
“The company will generate clean, sustainable power for the industrial zone, advancing the region’s green energy goals. This initiative supports Peza’s commitment to green practices across ecozones,” Peza said in a statement.
Meanwhile, Peza said Wenshan Electronics would manufacture high-tech chip power inductors at the Light Industry and Science Park II in Santo Tomas, Batangas.
“This investment further strengthens the Philippines’ competitive position in electronics manufacturing, enhancing its capacity to support high-value production for the global market,” said the government’s investment promotion agency.
Tractebel Red, according to PEZA, will deliver export knowledge and computer-enabled services from its base at Enterprise Center, Makati City.
“This investment promotes the Philippines as a hub for IT and tech-enabled services, contributing to job creation and innovation in the tech sector,” Peza said.
Peza director general Tereso Panga welcomed the registration of these enterprises and said they were committed to creating an “enabling environment” for investments that not only drive economic growth but also prioritize sustainability and innovation.
According to PEZA, Tsuneishi registered an investment amount of about P61 million, while
Economic zone investments registered at Peza enjoy a number of fiscal and non-fiscal incentives, including an income tax holiday of four to seven years, as well as a special corporate income tax rate of 5 percent or enhanced deductions for 10 years.
Meanwhile, domestic market-focused enterprises are given an income tax-holiday of four to seven years or enhanced deductions for five years.
