PEZA, Aboitiz Infra ink deals with Japanese firms

The Philippine Economic Zone Authority (PEZA) said Tuesday it has signed strategic partnership deals with two Japanese companies in a bid to attract more investments from Japan.

In a statement, the PEZA said, together with private sector Aboitiz InfraCapital (AIC), it inked a memorandum of understanding (MOU) with Junca Global Partner Inc. and a registration agreement (RA) with Kurabe Industrial Philippines Inc. on November 17.

Under the MOU with Junca, PEZA and Junca shall aggressively promote the Philippines as an investment destination not only for the established manufacturing companies in Japan but as well as startups that want to collaborate with local startups or micro, small, and medium enterprises (MSMEs) that are engaged in activities under the “Fourth Industrial Revolution.”

Junca Global Partner is into stem cells biotech, fintech, and blockchain technology.

“With the signed MOU, PEZA and Junca will collaborate in bringing renewable energy technologies to ecozones and thereby enable locator companies to remain globally competitive while at the same time contributing to mitigating the effects of climate change pursuant to the Kyoto Protocol and the Paris Agreement,” said PEZA officer-in-charge Director General Teresa Panga.

“These are high-tech industries that will diversify the country’s investment profile. The biotech industry will support our bid to attract [investments in] R&D (research and development and pave the way for their commercialization and level up the value chain so we can compete with big countries in high-tech industries,” said Panga.

Junca chairman and CEO Dr. Hisayuki Nagatome said, “I would like to thank Director General Panga, DTI Secretary Alfredo Pascual, and President Marcos Jr. for this partnership. I guarantee you that Junca Holdings will invest and bring in the latest technology in the Philippines through PEZA, especially in the field of artificial intelligence (AI), blockchain system, biotech and stem cell, and wellness products.”

Under the signed RA, Kurabe, an electronics company, will operate in a five-hectare lot in Lima Technology Center - Special Economic Zone (LTC-SEZ) in Lipa City, Batangas, according to PEZA.

Kurabe will engage in the manufacturing and assembly of car seat heater (CSH), steering wheel heater (STH), and CSH and STH heating wires, the agency said.

Meanwhile, the PEZA and AIC conducted an investment mission in Japan on November 14 to 18.

The PEZA and AIC pitched the Philippines for investments especially for export productions in ecozones.

The said investment mission was joined by the Department of Trade and Industry (DTI), Board of Investments (BOI), Department of Foreign Affairs (DFA), Department of Energy (DOE) and Philippine Trade and Investment Center (PTIC-Tokyo).

“As of September, PEZA has a total of 898 Japanese enterprises located in our economic zones with cumulative investments of PhP 739.599 billion. Meanwhile, from January to September 2022, P11.262 billion of investments were made from Japanese investors, with $13.258 Billion of export income generated, and created 351,335 direct jobs,” said Panga.

In terms of priority sectors in the current administration, the PEZA chief said, “We draw our guidance from the priority strategy of President Bongbong Marcos which are into economy, agriculture, and renewable energy. We are also guided by DTI’s Science Technology Innovation-driven industrialization strategy.”

For his part, DTI Undersecretary and BOI Managing Head Ceferino Rodolfo said, “They are pioneers and leaders in key areas in renewable energy and digitalization. Japan also administered visionary industrial souls that will provide us with full solutions should they decide to locate in the Philippines.” —Ted Cordero/KBK, GMA Integrated News