PEZA holds first Board Meeting for 2024 in Baguio City Economic Zone (BCEZ) | Department of Trade and Industry Philippines

PASAY CITY — With its common goal of promoting investments and bolstering stronger collaborations with its locators in the public economic zones, the Philippine Economic Zone Authority (PEZA) Board and Executive Committee conducted its first Board Meeting in the Baguio City Economic Zone (BCEZ) from January 25 to 27, 2024.

Headed by PEZA Director General Tereso O. Panga and BCEZ Zone Administrator Emmanuel O. Cortero, they also witnessed the BCEZ Multi-Purpose Center Groundbreaking Ceremony alongside company visits to the TI (Philippines), Inc. and Moog Controls Corporation (Philippine Branch).

Board approvals for January

The Board approved a total of PhP 2.21 billion investments, generating $69.62 million exports and 1,337 direct jobs, from 12 new and expansion projects, including 7 ecozone export enterprises, 4 IT enterprises, and 1 facilities enterprise.

Director General Tereso O. Panga expressed, “We are proud to have closed more than PhP 2 billion worth of investments in the first month for 2024, and confident to securing more investments which are already in PEZA’s pipeline and waiting for approval in the coming months.”

These new and expansion projects will be located in Cavite Economic Zone (CEZ), Cavite Technopark – Special Economic Zone (SEZ), Laguna Technopark, Lima Technology Center – SEZ, Carmelray Industrial Park II – SEZ, Laguna Technopark Annex – SEZ, First Philippine Industrial Park, Giga Tower Bridgetowne IT Park in Quezon City, Southwoods Mall in Laguna City, Panorama Tower in Bonifacio Global City, and Jazz IT Center in Makati City.

On BCEZ New Multi-Purpose Building

Director General Panga attended the BCEZ Multi-Purpose Center Groundbreaking Ceremony on Friday, 26 January 2024.

He congratulated BCEZ stating, “We are witnessing another milestone for establishing their multi-purpose center. The new two-level facility will serve as a venue for leasable office spaces, recreational, and learning activities for BCEZ and its locator companies. We are very excited for its completion to be targeted in May 2025.”

BCEZ Zone Administrator Cortero further emphasized, “Our 1,098.24 square meter multi-purpose center will be a state of the art and environment-friendly facility. One of the unique features of this building are its natural ventilation with passive cooling and solar rooftop renewable energy installation.”

PEZA Board visits TI (Philippines), Inc. and Moog Controls Corporation (Philippine Branch)

The TI (Philippines), Inc. led by its Country Director for Government Relations Ralph Reuben C. Morales, welcomed the PEZA Board to its office premises. During the tour, Country Director Morales shared that TI’s customers and companies in every market continue to add more electronics to make their products smarter, safer, more connected, and energy efficient.

Likewise, Moog Controls Corporation Facilities and EHS Manager Gilbert Malayo presented its company objective of “Fly and arrive safely with Moog products, made in the Philippines, by Filipinos.” For better appreciation of their production line processes, Moog also toured the Board to their facilities, namely : the HBU A&T, Prismatics, and the Gear Shop.

Director General Panga concluded the company visits by assuring both TI and Moog the Agency’s full support and assistance to their upcoming investment plans and endeavors. ♦

Date of release: 02 February 2024

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