EconomyEditor's PickPEZA sees Japanese interest in renewables, electric vehicle projects

November 17, 2022


THE Philippine Economic Zone Authority (PEZA) said Japanese manufacturers are considering investing in Philippine renewable energy and electric vehicle (EV) projects.

“We have seen serious and heightened interest in the areas of renewable energy, EVs, as well as the agro-industrial sector,” PEZA Officer-in-Charge Tereso O. Panga said in a Laging Handa briefing on Thursday.

“We continue to attract more Japanese investment because they committed to invest more in the Philippines and in economic zones under PEZA,” he added.

Mr. Panga and other government and private-sector officials are currently in Tokyo for meetings with potential investors.

“Japanese investors lead the country in terms of investment in economic zones (ecozones) under PEZA. We have 898 Japanese companies with P740 billion worth of investment that employ 352,000 employees directly,” Mr. Panga said.  

PEZA added in a Facebook post on Thursday that it has signed investment partnerships with two Japanese companies.

PEZA signed a memorandum of understanding with IT firm Junca Global Partner, Inc. The agreement is intended to kickstart investment attraction efforts by Japanese manufacturers and startups.

“Junca Global Partner is into stem cell biotech, financial technology and blockchain technology,” PEZA said.

PEZA also signed a registration agreement with Kurabe Industrial Philippines, Inc., which is seeking classification as an ecozone export enterprise. 

According to PEZA, Kurabe will manufacture and assemble car seat heaters and wiring and steering wheel heaters and wiring at the Lima Technology Center – Special Economic Zone in Lipa, Batangas.

“Kurabe will operate in a five-hectare lot in Lima Technology Center-Special Ecozone,” the PEZA said. — Revin Mikhael D. Ochave

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