Philippine Economic Zone Authority (PEZA): Best Economic Zone Promotion South East Asia 2022

The Philippines has some of the most concentrated natural resources in the world — and the Philippine Economic Zone Authority (PEZA) is publicising that fact to attract foreign development investments. PEZA acts as a catalyst for sustainable development in the Philippines, focusing on manufacturing, tourism and industrial exporters as well as land and building developers. It provides a complete service to investors, assisting with business registration, tax incentives and operational support. PEZA has undertaken a 25-year transformation strategy to accelerate the industrialisation of the country. Sustainability is a non-negotiable criterion for new and existing development, as environmental responsibility plays a critical role in decision making. PEZA looks to the future with lessons learned from the past. Previously the Philippines had centred around the extraction of raw materials, but now PEZA is building the infrastructure and workforce to claim more of the processing market. PEZA is training the people and developing the resources needed for this shift, which is expected to expound on benefits and improve margins. The transition will help to make the Philippines a more self-reliant and resource-generating country — and establish it as a major player in the global supply chain. PEZA intends to halt the “brain drain” of the country’s best talent by implementing inclusive policies to ensure smaller players — including SMEs, farmers and fisheries — aren’t overlooked. It is improving urban infrastructure, so workers have easy access to housing and facilities. PEZA is an integral part of the Philippines effort to lift the economic prospects for citizens. The CFI.co judging panel presents PEZA with the 2022 award for Best Economic Zone Promotion (South East Asia).