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Louella Desiderio - The Philippine Star
March 15, 2025 | 12:00am
In a statement, the investment promotion agency said PEZA director general Tereso Panga and BDO executive vice president Charles Rodriguez signed a memorandum of understanding (MOU) on March 10.
STAR / File
MANILA, Philippines — The Philippine Economic Zone Authority (PEZA) has teamed up with Sy-led BDO Unibank Inc. to promote the country as an investment destination.
In a statement, the investment promotion agency said PEZA director general Tereso Panga and BDO executive vice president Charles Rodriguez signed a memorandum of understanding (MOU) on March 10.
Through the MOU, PEZA will be tapping into BDO’s extensive network as it continues its mandate of attracting investments, generating exports and creating jobs.
The country’s largest bank, which has full international coverage, has been providing support to trade, commerce and investments through its over 1,200 branches nationwide.
For PEZA, the BDO’s strong commitment to financial inclusion and business expansion aligns with the investment promotion agency’s aim to position the Philippines as a top investment destination and to promote development in the regions.
“Together with PEZA, we aim to maximize the benefits of the CREATE MORE Law and its newly signed IRR (implementing rules and regulations) to drive more foreign direct investment,” Rodriguez said.
The CREATE MORE Act seeks to enhance the country’s incentives regime.
“Through strategic partnerships like this, we further strengthen our capacity to attract both foreign and local investors and ensure that our economic zones continue to be prime locations for growth, innovation and sustainability – ensuring that the economic zones of today are built for the demands of the future,” Panga said.
BDO is part of the SM Group of Companies. The group has a significant stake in PEZA’s ecozone development program, operating 25 information technology centers and parks and hosting 76 locators that employ over 109,000 Filipinos.
Aside from BDO, PEZA has partnered with other banks such as Sumitomo Mitsui Banking Corp., Rizal Commercial Banking Corp. and HSBC for trade, commerce and investments support and facilitation.
PEZA is aiming for nine- to 10-percent growth in investment approvals this year from last year’s P214.18 billion.
As of end-February, investments approved by PEZA reached P52.93 billion, more than four times the previous year’s P12.1 billion.
